Kayne Anderson Rudnick Investment Management LLC Has $14.93 Million Position in Vulcan Materials Company $VMC

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Vulcan Materials Company by 2.5%, owning 63,986 shares valued at approximately $14.93 million as of the latest SEC filing.
• Vulcan Materials reported earnings of $2.45 per share, missing estimates and showing a 4.4% year-over-year revenue growth despite earnings falling short of expectations.
• The company announced a quarterly dividend of $0.49, which equates to an annualized dividend of $1.96 and a yield of 0.7%, with a payout ratio of 27.37%.

Kayne Anderson Rudnick Investment Management LLC boosted its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,986 shares of the construction company's stock after purchasing an additional 1,583 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Vulcan Materials were worth $14,928,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Vulcan Materials in the 1st quarter valued at about $27,000. Kapitalo Investimentos Ltda bought a new stake in Vulcan Materials in the 4th quarter valued at about $35,000. Fourth Dimension Wealth LLC bought a new stake in Vulcan Materials in the 4th quarter valued at about $46,000. Manchester Capital Management LLC lifted its position in Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after purchasing an additional 39 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Vulcan Materials in the 1st quarter valued at about $45,000. 90.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on VMC. JPMorgan Chase & Co. boosted their price target on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday. Stifel Nicolaus boosted their price target on shares of Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Royal Bank Of Canada dropped their price target on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Morgan Stanley dropped their price target on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday, July 28th. Finally, Citigroup restated a "buy" rating and set a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Vulcan Materials presently has a consensus rating of "Buy" and a consensus target price of $308.36.

Vulcan Materials Price Performance

Shares of VMC traded down $0.07 during mid-day trading on Friday, hitting $291.09. The company's stock had a trading volume of 609,873 shares, compared to its average volume of 862,417. The firm has a 50-day moving average price of $275.65 and a 200 day moving average price of $259.85. The stock has a market capitalization of $38.46 billion, a price-to-earnings ratio of 40.66, a PEG ratio of 2.38 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $298.31.

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

Vulcan Materials Dividend Announcement

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

About Vulcan Materials

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.