Mirae Asset Global Investments Co. Ltd. Boosts Stake in Vulcan Materials Company $VMC

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Vulcan Materials Company by 9.1%, holding 15,652 shares worth approximately $4.08 million as of its latest SEC filing.
• Vulcan Materials reported earnings per share of $2.45 for the last quarter, missing analysts' estimates of $2.65, while revenue was $2.10 billion, lower than the projected $2.23 billion.
• The company recently declared a quarterly dividend of $0.49 per share, marking an annualized dividend of $1.96, which represents a 0.6% dividend yield.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,652 shares of the construction company's stock after acquiring an additional 1,309 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Vulcan Materials were worth $4,082,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VMC. Unified Investment Management lifted its stake in shares of Vulcan Materials by 1.7% in the second quarter. Unified Investment Management now owns 2,259 shares of the construction company's stock valued at $589,000 after purchasing an additional 38 shares during the period. Manchester Capital Management LLC lifted its position in shares of Vulcan Materials by 26.9% during the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after acquiring an additional 39 shares during the period. Chemistry Wealth Management LLC boosted its stake in shares of Vulcan Materials by 3.0% during the 2nd quarter. Chemistry Wealth Management LLC now owns 1,343 shares of the construction company's stock worth $350,000 after acquiring an additional 39 shares in the last quarter. ORG Partners LLC grew its holdings in shares of Vulcan Materials by 86.3% in the 2nd quarter. ORG Partners LLC now owns 95 shares of the construction company's stock worth $25,000 after acquiring an additional 44 shares during the period. Finally, DRW Securities LLC increased its stake in Vulcan Materials by 2.6% in the 1st quarter. DRW Securities LLC now owns 1,748 shares of the construction company's stock valued at $408,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $304.88 on Tuesday. The stock has a market capitalization of $40.28 billion, a P/E ratio of 42.58, a P/E/G ratio of 2.49 and a beta of 0.92. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $309.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. The firm's 50-day moving average is $292.05 and its two-hundred day moving average is $269.57.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings data 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). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the firm earned $2.35 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.96 annualized dividend and a dividend yield of 0.6%. Vulcan Materials's dividend payout ratio (DPR) is 27.37%.

Wall Street Analysts Forecast Growth

VMC has been the topic of a number of research analyst reports. Barclays boosted their target price on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley decreased their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Citigroup reaffirmed a "buy" rating and issued a $321.00 price target (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Finally, Royal Bank Of Canada lowered 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $308.36.

Insider Activity at Vulcan Materials

In related news, SVP David P. Clement sold 698 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the completion of the transaction, the senior vice president directly owned 2,832 shares in the company, valued at approximately $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.