Keebeck Wealth Management Buys New Stake in Vulcan Materials Company $VMC

Key Points

• Keebeck Wealth Management acquired 4,474 shares of Vulcan Materials in the second quarter, valued at approximately $1.32 million. Institutional investors collectively own 90.39% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $327.93 versus the stock’s reported price of $275.48.
• Vulcan Materials beat quarterly earnings expectations, reporting $2.59 in EPS and $2.16 billion in revenue, while announcing a quarterly dividend of $0.52 per share, representing a 0.8% yield.

Keebeck Wealth Management bought a new stake in Vulcan Materials Company (NYSE:VMC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,474 shares of the construction company's stock, valued at approximately $1,320,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new stake in shares of Vulcan Materials in the 2nd quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in Vulcan Materials during the 3rd quarter valued at about $30,000. Birchwood Financial Partners Inc. purchased a new position in Vulcan Materials during the 4th quarter valued at about $29,000. Meeder Asset Management Inc. grew its position in Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company's stock valued at $28,000 after acquiring an additional 43 shares in the last quarter. Finally, WPG Advisers LLC grew its position in Vulcan Materials by 56.4% in the 4th quarter. WPG Advisers LLC now owns 122 shares of the construction company's stock valued at $35,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VMC shares. Berenberg Bank set a $283.00 price target on shares of Vulcan Materials and gave the stock a "hold" rating in a research note on Tuesday, June 2nd. Oppenheimer initiated coverage on shares of Vulcan Materials in a research note on Thursday, May 28th. They issued a "market perform" rating for the company. Raymond James Financial restated an "outperform" rating on shares of Vulcan Materials in a report on Wednesday, July 15th. Wells Fargo & Company cut their target price on shares of Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus set a $333.00 target price on shares of Vulcan Materials in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $327.93.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 2,000 shares of Vulcan Materials stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the transaction, the senior vice president owned 6,716 shares in the company, valued at $1,914,731.60. The trade was a 22.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Vulcan Materials Trading Up 1.8%

VMC opened at $275.48 on Friday. The business has a fifty day moving average price of $289.19 and a 200 day moving average price of $287.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09. The stock has a market capitalization of $35.70 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 1.95 and a beta of 1.06.

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

Vulcan Materials Dividend Announcement

The company also recently announced 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 13th. Vulcan Materials's dividend payout ratio is presently 24.56%.

Vulcan Materials Company 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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