LeConte Wealth Management LLC Makes New Investment in Vulcan Materials Company $VMC

Key Points

• LeConte Wealth Management LLC has invested approximately $335,000 in Vulcan Materials Company by acquiring 1,434 shares, as detailed in their recent SEC filing.
• Vulcan Materials' recent quarterly earnings report revealed earnings per share (EPS) of $2.45, falling short of analysts' expectations of $2.65, with revenue reported at $2.10 billion.
• The company has announced a quarterly dividend of $0.49 per share, translating to an annualized dividend of $1.96 and a yield of 0.7%.

LeConte Wealth Management LLC bought a new position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,434 shares of the construction company's stock, valued at approximately $335,000.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC increased its stake in Vulcan Materials by 21.0% during the 1st quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock worth $222,000 after purchasing an additional 165 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Vulcan Materials by 42.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock worth $3,686,000 after acquiring an additional 4,678 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Vulcan Materials by 24.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock worth $215,000 after acquiring an additional 180 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Vulcan Materials by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock worth $398,000 after acquiring an additional 365 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Vulcan Materials by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock worth $249,000 after acquiring an additional 51 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Raymond James Financial decreased their target price on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Barclays raised their price target on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Morgan Stanley cut their price target on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a report on Monday, July 28th. Finally, Citigroup reaffirmed a "buy" rating and set a $321.00 price target (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $304.27.

Vulcan Materials Stock Performance

Shares of VMC traded up $2.04 during midday trading on Thursday, reaching $288.32. 627,263 shares of the stock were exchanged, compared to its average volume of 1,057,623. Vulcan Materials Company has a twelve month low of $215.08 and a twelve month high of $298.31. 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 company has a market cap of $38.09 billion, a P/E ratio of 40.27, a PEG ratio of 2.39 and a beta of 0.83. The stock's 50 day simple moving average is $271.27 and its 200 day simple moving average is $258.93.

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 analysts' consensus estimates of $2.65 by ($0.20). The firm had revenue of $2.10 billion for 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 firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.35 EPS. On average, sell-side analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 14th. Vulcan Materials's payout ratio is 27.37%.

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.