Jessup Wealth Management Inc Buys 1,365 Shares of Vulcan Materials Company (NYSE:VMC)

Jessup Wealth Management Inc raised its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 4.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,359 shares of the construction company's stock after buying an additional 1,365 shares during the quarter. Vulcan Materials comprises 2.8% of Jessup Wealth Management Inc's portfolio, making the stock its 13th largest holding. Jessup Wealth Management Inc's holdings in Vulcan Materials were worth $6,849,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Counselors Inc. raised its stake in Vulcan Materials by 47.0% in the first quarter. Financial Counselors Inc. now owns 1,386 shares of the construction company's stock valued at $323,000 after purchasing an additional 443 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Vulcan Materials by 11.1% in the 1st quarter. TD Private Client Wealth LLC now owns 1,989 shares of the construction company's stock valued at $464,000 after acquiring an additional 199 shares during the last quarter. Wayfinding Financial LLC bought a new position in Vulcan Materials during the 1st quarter worth approximately $45,000. IFM Investors Pty Ltd boosted its stake in shares of Vulcan Materials by 14.3% during the first quarter. IFM Investors Pty Ltd now owns 32,289 shares of the construction company's stock valued at $8,086,000 after purchasing an additional 4,039 shares during the period. Finally, Calamos Advisors LLC increased its stake in shares of Vulcan Materials by 0.4% in the first quarter. Calamos Advisors LLC now owns 53,528 shares of the construction company's stock worth $12,488,000 after buying an additional 209 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Up 0.2%

NYSE:VMC opened at $266.24 on Monday. The firm has a 50-day simple moving average of $264.56 and a two-hundred day simple moving average of $256.16. The firm has a market cap of $35.17 billion, a P/E ratio of 37.76, a P/E/G ratio of 2.37 and a beta of 0.82. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $298.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.51 and a current ratio of 2.42.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.20. The business had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.91% and a net margin of 12.50%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. Analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.74%. Vulcan Materials's dividend payout ratio (DPR) is currently 27.80%.

Insider Activity

In related news, SVP David P. Clement sold 1,500 shares of Vulcan Materials stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $270.00, for a total transaction of $405,000.00. Following the transaction, the senior vice president directly owned 2,832 shares in the company, valued at approximately $764,640. The trade was a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

VMC has been the subject of several recent analyst reports. Loop Capital lowered their price objective on shares of Vulcan Materials from $325.00 to $320.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. UBS Group upgraded Vulcan Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. JPMorgan Chase & Co. raised shares of Vulcan Materials from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $290.00 to $285.00 in a research report on Wednesday, March 19th. Morgan Stanley increased their target price on Vulcan Materials from $273.00 to $303.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Seaport Res Ptn upgraded Vulcan Materials to a "strong-buy" rating in a research note on Friday, March 21st. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Vulcan Materials presently has an average rating of "Moderate Buy" and an average price target of $302.91.

Vulcan Materials 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.

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