JPMorgan Chase & Co. Buys 370,434 Shares of Vulcan Materials Company (NYSE:VMC)

Key Points

• JPMorgan Chase & Co. increased its stake in Vulcan Materials by 5.6%, now owning approximately 6,967,777 shares valued at $1.63 billion.
• Vulcan Materials declared a quarterly dividend of $0.49 per share, reflecting an annualized yield of 0.7% with a payout ratio of 27.37%.
• Vulcan Materials reported earnings per share of $2.45, missing estimates and showing a 4.4% year-over-year revenue increase with sales of $2.10 billion.

JPMorgan Chase & Co. boosted its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,967,777 shares of the construction company's stock after acquiring an additional 370,434 shares during the quarter. JPMorgan Chase & Co. owned approximately 5.27% of Vulcan Materials worth $1,625,583,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VMC. Vanguard Group Inc. grew its stake in shares of Vulcan Materials by 2.1% during the first quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company's stock valued at $3,896,031,000 after purchasing an additional 347,155 shares during the last quarter. Principal Financial Group Inc. boosted its position in Vulcan Materials by 7.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock valued at $1,518,291,000 after buying an additional 445,691 shares during the last quarter. Stockbridge Partners LLC boosted its position in Vulcan Materials by 11.3% in the 4th quarter. Stockbridge Partners LLC now owns 1,746,482 shares of the construction company's stock valued at $449,248,000 after buying an additional 177,918 shares during the last quarter. Alkeon Capital Management LLC boosted its position in Vulcan Materials by 54.1% in the 4th quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock valued at $329,769,000 after buying an additional 450,000 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Vulcan Materials by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 928,469 shares of the construction company's stock valued at $238,831,000 after buying an additional 50,327 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $270.00, for a total transaction of $405,000.00. Following the completion of the transaction, the senior vice president directly owned 2,832 shares of the company's stock, valued at $764,640. This trade represents a 34.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is currently owned by company insiders.

Vulcan Materials Trading Up 1.7%

Shares of NYSE VMC opened at $286.92 on Friday. The company's fifty day moving average is $267.06 and its 200-day moving average is $257.94. 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 cap of $37.91 billion, a price-to-earnings ratio of 40.07, a P/E/G ratio of 2.34 and a beta of 0.83. Vulcan Materials Company has a twelve month low of $215.08 and a twelve month high of $298.31.

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

Vulcan Materials Announces Dividend

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 issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 14th. Vulcan Materials's payout ratio is 27.37%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank Of Canada decreased their price target 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. Raymond James Financial reduced their target price on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Argus raised shares of Vulcan Materials to a "strong-buy" rating in a research note on Thursday, April 24th. Morgan Stanley reduced their target price 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. Finally, Barclays raised their price objective on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $304.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.