Mitsubishi UFJ Asset Management Co. Ltd. Has $55.14 Million Stock Holdings in Vulcan Materials Company (NYSE:VMC)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has raised its stake in Vulcan Materials Company by 12.3%, acquiring a total of 236,353 shares, valued at approximately $55.14 million.
• Multiple hedge funds, including Invesco Ltd. and FIL Ltd, have also increased their holdings in Vulcan Materials, demonstrating strong institutional interest with about 90.39% of the stock now owned by institutional investors.
• Analysts are optimistic, with several upgrades to price targets, and a consensus rating of "Moderate Buy", suggesting a potential average price target of approximately $304.27.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,353 shares of the construction company's stock after buying an additional 25,852 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Vulcan Materials worth $55,141,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Opal Wealth Advisors LLC purchased a new stake in shares of Vulcan Materials during the first quarter worth $27,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Vulcan Materials during the fourth quarter worth $35,000. Manchester Capital Management LLC raised its holdings in shares of Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock worth $43,000 after acquiring an additional 39 shares in the last quarter. Wayfinding Financial LLC bought a new position in Vulcan Materials during the first quarter valued at about $45,000. Finally, Fourth Dimension Wealth LLC bought a new position in Vulcan Materials during the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 1,500 shares of the business'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 transaction, the senior vice president directly owned 2,832 shares of the company's stock, valued at $764,640. The trade was a 34.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by insiders.

Vulcan Materials Price Performance

NYSE VMC traded down $1.37 during trading on Monday, reaching $285.15. 976,094 shares of the company traded hands, compared to its average volume of 1,063,912. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. The stock's 50 day moving average price is $267.06 and its two-hundred day moving average price is $257.82. The company has a market cap of $37.67 billion, a price-to-earnings ratio of 39.83, a P/E/G ratio of 2.34 and a beta of 0.83. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last released 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). The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 earnings per share. As a group, analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently announced 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. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 14th. Vulcan Materials's payout ratio is presently 27.37%.

Analysts Set New Price Targets

A number of research firms have recently commented on VMC. Barclays lifted their price objective on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Stephens set a $315.00 target price on shares of Vulcan Materials and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Morgan Stanley cut their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research note on Monday, July 28th. UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and raised their price target for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Finally, Raymond James Financial dropped their price objective on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Vulcan Materials has an average rating of "Moderate Buy" and an average target price of $304.27.

About Vulcan Materials

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.