Northwestern Mutual Wealth Management Co. Invests $5.28 Million in Vulcan Materials Company $VMC

Key Points

• Northwestern Mutual Wealth Management purchased 17,909 shares of Vulcan Materials in the second quarter, valued at approximately $5.28 million. Institutional investors collectively own 90.39% of the company.
• Analysts maintain a generally positive outlook, with Vulcan rated “Moderate Buy” and a consensus price target of $327.93. Recent ratings included an upgrade to a $340 target from Stephens and a reduction to $305 from Wells Fargo.
• Vulcan Materials exceeded quarterly expectations, reporting $2.59 in EPS and $2.16 billion in revenue, while revenue grew 2.5% year over year. The company also declared a quarterly dividend of $0.52 per share, representing a 0.8% yield.

Northwestern Mutual Wealth Management Co. bought a new stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,909 shares of the construction company's stock, valued at approximately $5,283,000.

Several other institutional investors also recently added to or reduced their stakes in VMC. Burkett Financial Services LLC purchased a new position in shares of Vulcan Materials during the second quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Vulcan Materials in the third quarter valued at approximately $30,000. Birchwood Financial Partners Inc. purchased a new stake in shares of Vulcan Materials in the fourth quarter valued at approximately $29,000. Meeder Asset Management Inc. grew its stake in Vulcan Materials by 71.7% in the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company's stock worth $28,000 after purchasing an additional 43 shares in the last quarter. Finally, Concord Wealth Partners purchased a new position in Vulcan Materials during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Oppenheimer began coverage on Vulcan Materials in a research report on Thursday, May 28th. They set a "market perform" rating for the company. Berenberg Bank set a $283.00 price target on Vulcan Materials and gave the company a "hold" rating in a research note on Tuesday, June 2nd. Stephens lifted their price objective on Vulcan Materials from $330.00 to $340.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company dropped their target price on shares of Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $327.93.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 2,000 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the sale, the senior vice president owned 6,716 shares of the company's stock, valued at $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by insiders.

Vulcan Materials Stock Down 0.2%

Vulcan Materials stock opened at $275.48 on Monday. The business has a fifty day moving average of $289.19 and a two-hundred day moving average of $287.48. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The firm has a market cap of $35.70 billion, a P/E ratio of 32.52, a P/E/G ratio of 1.99 and a beta of 1.06. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09.

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

Vulcan Materials Dividend Announcement

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source