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Vulcan Materials Company (NYSE:VMC) Shares Purchased by Mackenzie Financial Corp

Vulcan Materials logo with Construction background

Key Points

  • Mackenzie Financial Corp has increased its holdings in Vulcan Materials Company by 16.5%, now owning approximately $19.26 million worth of the company's stock.
  • Insider trading activity showed that SVP David P. Clement sold 1,500 shares at an average price of $270.00, reducing his holdings by 34.63%.
  • Vulcan Materials recently declared a quarterly dividend of $0.49 per share, representing an annual yield of 0.72%.
  • MarketBeat previews the top five stocks to own by September 1st.

Mackenzie Financial Corp raised its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 16.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,564 shares of the construction company's stock after purchasing an additional 11,679 shares during the period. Mackenzie Financial Corp owned 0.06% of Vulcan Materials worth $19,262,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in Vulcan Materials during the first quarter valued at approximately $27,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Vulcan Materials during the 4th quarter valued at about $35,000. Wayfinding Financial LLC purchased a new position in shares of Vulcan Materials in the first quarter worth approximately $45,000. Fourth Dimension Wealth LLC bought a new position in Vulcan Materials in the fourth quarter worth approximately $46,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Vulcan Materials during the 1st quarter worth $54,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Argus upgraded Vulcan Materials to a "strong-buy" rating in a research report on Thursday, April 24th. Raymond James Financial dropped their price target on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Wolfe Research upgraded shares of Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research report on Thursday, April 10th. Stephens set a $315.00 target price on shares of Vulcan Materials and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Morgan Stanley decreased their target price on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Monday. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Vulcan Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $302.45.

Read Our Latest Report on VMC

Vulcan Materials Trading Down 0.0%

Shares of Vulcan Materials stock traded down $0.11 on Friday, hitting $274.56. 1,442,181 shares of the company traded hands, compared to its average volume of 957,785. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $298.31. The company has a current ratio of 1.67, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. The stock's 50 day moving average price is $265.23 and its 200-day moving average price is $257.53. The company has a market cap of $36.27 billion, a PE ratio of 38.35, a PEG ratio of 2.42 and a beta of 0.83.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.35 earnings per share. Equities research analysts predict that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials's dividend payout ratio is currently 27.80%.

Insider Buying and Selling at Vulcan Materials

In related news, SVP David P. Clement sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $270.00, for a total value of $405,000.00. Following the sale, the senior vice president owned 2,832 shares in the company, valued at $764,640. This represents a 34.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.62% of the company's stock.

Vulcan Materials Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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