Hsbc Holdings PLC Has $79.52 Million Stock Holdings in Vulcan Materials Company $VMC

Key Points

• HSBC Holdings PLC increased its Vulcan Materials stake by 31.1% in the first quarter, buying 69,564 additional shares and bringing its total holding to 293,084 shares valued at about $79.5 million.
• Analyst sentiment is mixed but generally positive: the stock has a consensus rating of “Moderate Buy” with an average price target of $327.79, though several firms recently trimmed targets or downgraded the stock.
• Vulcan Materials posted strong quarterly results and a dividend, beating EPS and revenue expectations, while also announcing a quarterly dividend of $0.52 per share payable on Sept. 2.

Hsbc Holdings PLC lifted its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 31.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 293,084 shares of the construction company's stock after purchasing an additional 69,564 shares during the quarter. Hsbc Holdings PLC owned 0.22% of Vulcan Materials worth $79,516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VMC. Brighton Jones LLC acquired a new position in shares of Vulcan Materials in the fourth quarter worth about $497,000. NewEdge Advisors LLC raised its holdings in shares of Vulcan Materials by 3.9% during the first quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company's stock valued at $1,017,000 after acquiring an additional 163 shares during the period. Empowered Funds LLC lifted its position in shares of Vulcan Materials by 6.3% in the 1st quarter. Empowered Funds LLC now owns 3,195 shares of the construction company's stock valued at $745,000 after acquiring an additional 190 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Vulcan Materials by 28.5% in the 1st quarter. Focus Partners Wealth now owns 3,321 shares of the construction company's stock valued at $775,000 after acquiring an additional 736 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Vulcan Materials by 31.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company's stock worth $78,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VMC shares. Wells Fargo & Company lowered their price objective on shares of Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 8th. Zacks Research raised Vulcan Materials from a "strong sell" rating to a "hold" rating in a research report on Thursday, April 9th. Stephens raised their target price on Vulcan Materials from $330.00 to $340.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Royal Bank Of Canada lowered their price target on Vulcan Materials from $298.00 to $293.00 and set a "sector perform" rating on the stock in a report on Tuesday, June 30th. Finally, Wall Street Zen lowered Vulcan Materials from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $327.79.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the completion of the sale, the senior vice president directly owned 8,716 shares of the company's stock, valued at $2,547,599.64. This trade represents a 20.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is owned by company insiders.

Vulcan Materials Stock Up 0.1%

Vulcan Materials stock opened at $288.64 on Monday. The firm has a market cap of $37.45 billion, a PE ratio of 34.32, a P/E/G ratio of 2.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. The firm's 50 day moving average price is $286.57 and its two-hundred day moving average price is $290.96. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.25. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.Vulcan Materials's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. On average, research analysts predict that Vulcan Materials Company will post 9.23 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials's dividend payout ratio is presently 24.73%.

Vulcan Materials Profile

Vulcan Materials Company NYSE: VMC is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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