Korea Investment CORP Takes Position in Vulcan Materials Company $VMC

Key Points

• Korea Investment Corp. purchased 124,512 shares of Vulcan Materials in the second quarter, valued at approximately $36.7 million and representing about 0.10% of the company. Institutional investors collectively own 90.39% of VMC.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $327.93; eight analysts rate the stock Buy and eight rate it Hold.
• Vulcan Materials exceeded quarterly expectations, reporting $2.59 in EPS versus the $2.46 estimate and $2.16 billion in revenue. The company also declared a $0.52 quarterly dividend, yielding approximately 0.8% annually.

Korea Investment CORP purchased a new stake in Vulcan Materials Company (NYSE:VMC - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 124,512 shares of the construction company's stock, valued at approximately $36,732,000. Korea Investment CORP owned about 0.10% of Vulcan Materials as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VMC. Chesapeake Capital Corp IL increased its position in Vulcan Materials by 0.9% in the 4th quarter. Chesapeake Capital Corp IL now owns 3,712 shares of the construction company's stock valued at $1,059,000 after acquiring an additional 33 shares in the last quarter. Composition Wealth LLC lifted its position in shares of 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 in the last quarter. Truist Financial Corp grew its stake in shares of Vulcan Materials by 0.3% during the fourth quarter. Truist Financial Corp now owns 13,331 shares of the construction company's stock valued at $3,802,000 after purchasing an additional 38 shares during the last quarter. United Capital Financial Advisors LLC grew its stake in shares of Vulcan Materials by 1.2% during the third quarter. United Capital Financial Advisors LLC now owns 3,095 shares of the construction company's stock valued at $952,000 after purchasing an additional 38 shares during the last quarter. Finally, 4WEALTH Advisors Inc. grew its stake in shares of Vulcan Materials by 3.2% during the first quarter. 4WEALTH Advisors Inc. now owns 1,261 shares of the construction company's stock valued at $337,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup dropped their price objective on shares of Vulcan Materials from $355.00 to $350.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Royal Bank Of Canada increased their price objective on Vulcan Materials from $293.00 to $300.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Wells Fargo & Company lowered their target price on Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 8th. UBS Group cut their target price on shares of Vulcan Materials from $350.00 to $349.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Vulcan Materials has a consensus rating of "Moderate Buy" and an average target price of $327.93.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 2,212 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the transaction, the senior vice president directly owned 8,716 shares of the company's stock, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company's stock.

Vulcan Materials Price Performance

NYSE VMC opened at $275.48 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. The stock has a market cap of $35.70 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 1.99 and a beta of 1.06. The business has a 50 day simple moving average of $289.19 and a 200 day simple moving average of $287.61. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09.

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

Vulcan Materials Dividend Announcement

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