Fulton Bank N.A. Invests $240,000 in Vulcan Materials Company $VMC

Key Points

• Fulton Bank N.A. has acquired a new position in Vulcan Materials Company, purchasing 922 shares valued at approximately $240,000 during the second quarter.
• Wall Street analysts generally maintain a positive outlook on Vulcan Materials, with an average rating of "Buy" and a consensus price target of $308.36.
• The company announced a quarterly dividend of $0.49 per share, reflecting an annualized dividend yield of 0.7%.

Fulton Bank N.A. purchased a new stake in Vulcan Materials Company (NYSE:VMC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 922 shares of the construction company's stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC acquired a new position in Vulcan Materials during the fourth quarter valued at approximately $497,000. Vise Technologies Inc. acquired a new position in Vulcan Materials during the fourth quarter valued at approximately $332,000. Fourth Dimension Wealth LLC acquired a new position in Vulcan Materials during the fourth quarter valued at approximately $46,000. Toronto Dominion Bank raised its position in Vulcan Materials by 7.3% during the fourth quarter. Toronto Dominion Bank now owns 70,790 shares of the construction company's stock valued at $18,209,000 after purchasing an additional 4,826 shares in the last quarter. Finally, Griffith & Werner Inc. acquired a new position in Vulcan Materials during the fourth quarter valued at approximately $257,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $298.56, for a total value of $208,394.88. Following the transaction, the senior vice president owned 2,832 shares in the company, valued at approximately $845,521.92. The trade was a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

Vulcan Materials Price Performance

Shares of NYSE VMC traded down $2.20 during mid-day trading on Tuesday, reaching $296.69. 188,235 shares of the company were exchanged, compared to its average volume of 1,013,481. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $302.21. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $39.20 billion, a PE ratio of 41.46, a PEG ratio of 2.43 and a beta of 0.86. The company's 50 day moving average price is $285.24 and its 200 day moving average price is $264.71.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The business's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.35 earnings per share. Sell-side analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th were paid a $0.49 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.96 annualized dividend and a yield of 0.7%. Vulcan Materials's payout ratio is currently 27.37%.

Analyst Ratings Changes

VMC has been the topic of several analyst reports. Royal Bank Of Canada reduced their price objective on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Morgan Stanley reduced their price objective on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Monday, July 28th. Citigroup reissued a "buy" rating and issued a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Finally, Barclays boosted their price objective on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $308.36.

Vulcan Materials Company Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.