Montanova Capital LLC Boosts Stock Holdings in Vulcan Materials Company $VMC

Key Points

• Montanova Capital increased its Vulcan Materials position by 18.4% in the second quarter, adding 33,384 shares to own 214,978 shares worth approximately $63.4 million. Institutional investors collectively hold 90.39% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $328.64, compared with the stock’s reported opening price of $269.62.
• Vulcan Materials exceeded quarterly earnings and revenue expectations, reporting $2.59 in EPS and $2.16 billion in revenue, while declaring a quarterly dividend of $0.52 per share. Shares remain below their 52-week high, and insiders have sold more than $5.08 million of stock over the past 90 days.

Montanova Capital LLC raised its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 18.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 214,978 shares of the construction company's stock after purchasing an additional 33,384 shares during the period. Vulcan Materials accounts for approximately 1.1% of Montanova Capital LLC's portfolio, making the stock its 26th largest holding. Montanova Capital LLC owned 0.17% of Vulcan Materials worth $63,421,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Chesapeake Capital Corp IL lifted its position in shares of Vulcan Materials by 0.9% during the 4th quarter. Chesapeake Capital Corp IL now owns 3,712 shares of the construction company's stock valued at $1,059,000 after buying an additional 33 shares during the last quarter. Composition Wealth LLC lifted its holdings in Vulcan Materials by 3.5% during the fourth quarter. Composition Wealth LLC now owns 1,014 shares of the construction company's stock valued at $289,000 after purchasing an additional 34 shares during the last quarter. Truist Financial Corp boosted its position in Vulcan Materials by 0.3% during the fourth quarter. Truist Financial Corp now owns 13,331 shares of the construction company's stock worth $3,802,000 after purchasing an additional 38 shares during the period. United Capital Financial Advisors LLC increased its stake in shares of Vulcan Materials by 1.2% in the third quarter. United Capital Financial Advisors LLC now owns 3,095 shares of the construction company's stock worth $952,000 after purchasing an additional 38 shares in the last quarter. Finally, 4WEALTH Advisors Inc. raised its position in shares of Vulcan Materials by 3.2% in 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 period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VMC has been the subject of a number of recent research reports. DA Davidson began coverage on shares of Vulcan Materials in a research note on Tuesday, August 25th. They issued a "buy" rating and a $330.00 price objective for the company. UBS Group cut their price target on Vulcan Materials from $350.00 to $349.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. Berenberg Bank set a $283.00 price objective on Vulcan Materials and gave the company a "hold" rating in a research note on Tuesday, June 2nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Finally, Oppenheimer started coverage on Vulcan Materials in a report on Thursday, May 28th. They set a "market perform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $328.64.

Insider Activity

In related news, SVP David P. Clement sold 2,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the transaction, the senior vice president directly owned 6,716 shares in the company, valued at approximately $1,914,731.60. This represents a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Thomas Hill sold 14,000 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the sale, the director directly owned 58,209 shares in the company, valued at $16,075,579.53. This represents a 19.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 18,212 shares of company stock worth $5,083,125. Insiders own 0.65% of the company's stock.

Vulcan Materials Stock Down 1.8%

Shares of NYSE:VMC opened at $269.62 on Tuesday. The firm has a fifty day moving average price of $286.03 and a two-hundred day moving average price of $285.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09. The company has a market cap of $34.94 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.98 and a beta of 1.06.

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

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, August 13th. Vulcan Materials's dividend payout ratio is currently 24.56%.

About Vulcan Materials

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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