Vulcan Materials Company (NYSE:VMC) Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Vulcan Materials Company by 4.4%, acquiring an additional 50,968 shares and owning approximately 0.92% of the company, valued at $283.4 million.
• Vulcan Materials reported quarterly earnings of $2.45 per share, missing the consensus estimate of $2.65, with revenue of $2.10 billion compared to an expected $2.23 billion.
• The company declared a quarterly dividend of $0.49 per share, reflecting an annualized yield of 0.7%, with a payout ratio of 27.37%.

Invesco Ltd. grew its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,214,868 shares of the construction company's stock after buying an additional 50,968 shares during the period. Invesco Ltd. owned 0.92% of Vulcan Materials worth $283,429,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in VMC. Manchester Capital Management LLC increased its holdings in Vulcan Materials by 26.9% in the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after buying an additional 39 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its position in shares of Vulcan Materials by 1.1% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 4,336 shares of the construction company's stock worth $1,012,000 after acquiring an additional 46 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Vulcan Materials by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock valued at $249,000 after acquiring an additional 51 shares during the last quarter. Marks Group Wealth Management Inc raised its position in shares of Vulcan Materials by 2.7% during the 1st quarter. Marks Group Wealth Management Inc now owns 2,203 shares of the construction company's stock worth $514,000 after acquiring an additional 57 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Vulcan Materials by 10.0% during the first quarter. Allworth Financial LP now owns 651 shares of the construction company's stock worth $163,000 after purchasing an additional 59 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Trading Down 0.6%

VMC traded down $1.88 during midday trading on Thursday, hitting $293.76. The company's stock had a trading volume of 936,266 shares, compared to its average volume of 1,029,238. The firm has a market cap of $38.81 billion, a P/E ratio of 41.03, a PEG ratio of 2.42 and a beta of 0.83. The firm has a 50-day moving average price of $268.64 and a two-hundred day moving average price of $258.37. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52.

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

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. Vulcan Materials's dividend payout ratio is currently 27.37%.

Analysts Set New Price Targets

A number of analysts have weighed in on VMC shares. Raymond James Financial cut their price objective on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Citigroup reiterated a "buy" rating and set a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Royal Bank Of Canada dropped their price objective on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Stifel Nicolaus boosted their target price on Vulcan Materials from $287.00 to $309.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Stephens set a $315.00 price target on Vulcan Materials and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials has an average rating of "Moderate Buy" and an average target price of $304.27.

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.