Jupiter Topco LLC Purchases New Shares in Vulcan Materials Company $VMC

Key Points

• Jupiter Topco LLC acquired 22,707 shares of Vulcan Materials in the second quarter, valued at approximately $6.7 million. Institutional investors collectively own 90.39% of the company.
• Vulcan Materials reported quarterly earnings of $2.59 per share, exceeding estimates of $2.46, while revenue rose 2.5% year over year to $2.16 billion.
• The company declared a quarterly dividend of $0.52 per share, representing an annualized payout of $2.08 and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $328.64.

Jupiter Topco LLC acquired a new stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 22,707 shares of the construction company's stock, valued at approximately $6,697,000.

A number of other hedge funds have also recently bought and sold shares of VMC. Chesapeake Capital Corp IL raised its holdings in shares of Vulcan Materials by 0.9% in the fourth quarter. Chesapeake Capital Corp IL now owns 3,712 shares of the construction company's stock valued at $1,059,000 after purchasing an additional 33 shares during the last quarter. Composition Wealth LLC boosted its holdings in Vulcan Materials by 3.5% during the fourth quarter. Composition Wealth LLC now owns 1,014 shares of the construction company's stock worth $289,000 after purchasing an additional 34 shares during the last quarter. Truist Financial Corp boosted its holdings in Vulcan Materials by 0.3% during the fourth quarter. Truist Financial Corp now owns 13,331 shares of the construction company's stock worth $3,802,000 after purchasing an additional 38 shares during the last quarter. United Capital Financial Advisors LLC grew its position in Vulcan Materials by 1.2% in the 3rd quarter. United Capital Financial Advisors LLC now owns 3,095 shares of the construction company's stock worth $952,000 after purchasing an additional 38 shares in the last quarter. Finally, 4WEALTH Advisors Inc. grew its position in Vulcan Materials by 3.2% in the 1st quarter. 4WEALTH Advisors Inc. now owns 1,261 shares of the construction company's stock worth $337,000 after purchasing an additional 39 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP David P. Clement sold 2,212 shares of the business'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 transaction, the senior vice president directly owned 8,716 shares in the company, valued at $2,547,599.64. The trade was a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by insiders.

Vulcan Materials Stock Performance

NYSE VMC opened at $275.11 on Monday. Vulcan Materials Company has a 1 year low of $252.35 and a 1 year high of $331.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. The stock has a market capitalization of $35.65 billion, a PE ratio of 32.48, a P/E/G ratio of 1.98 and a beta of 1.06. The company's 50 day simple moving average is $286.74 and its two-hundred day simple moving average is $285.99.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.46 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $2.42 EPS. Analysts predict that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.08 annualized dividend and a yield of 0.8%. Vulcan Materials's dividend payout ratio (DPR) is currently 24.56%.

Analysts Set New Price Targets

VMC has been the topic of several recent analyst reports. DA Davidson started coverage on shares of Vulcan Materials in a research report on Tuesday, August 25th. They set a "buy" rating and a $330.00 target price on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vulcan Materials in a report on Tuesday, July 7th. UBS Group decreased their price target on Vulcan Materials from $350.00 to $349.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. Wells Fargo & Company decreased their price target on Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada lifted their price target on Vulcan Materials from $293.00 to $300.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $328.64.

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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