Nuveen LLC Invests $82.66 Million in Vulcan Materials Company (NYSE:VMC)

Key Points

• Nuveen LLC invested approximately $82.66 million in Vulcan Materials Company by purchasing 354,303 shares, marking a 0.27% ownership at the end of the recent quarter.
• Vulcan Materials recently reported earnings of $2.45 per share, which missed analyst expectations, with revenue for the quarter at $2.10 billion compared to a forecast of $2.23 billion.
• The company declared a quarterly dividend of $0.49, equating to an annualized yield of 0.7%, with the payment scheduled for September 3rd.

Nuveen LLC purchased a new position in Vulcan Materials Company (NYSE:VMC - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 354,303 shares of the construction company's stock, valued at approximately $82,659,000. Nuveen LLC owned 0.27% of Vulcan Materials at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its stake in Vulcan Materials by 21.0% in the 1st quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock valued at $222,000 after buying an additional 165 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Vulcan Materials by 42.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock worth $3,686,000 after buying an additional 4,678 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Vulcan Materials by 24.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock worth $215,000 after buying an additional 180 shares during the period. GAMMA Investing LLC boosted its holdings in Vulcan Materials by 27.2% in the 1st quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock valued at $398,000 after purchasing an additional 365 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Vulcan Materials by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock valued at $249,000 after purchasing an additional 51 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VMC shares. Stephens set a $315.00 price objective on shares of Vulcan Materials and gave the company an "overweight" rating in a research note on Thursday, May 1st. Raymond James Financial dropped their target price on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Stifel Nicolaus lifted their price target on shares of Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley lowered their price target on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research report on Monday, July 28th. Finally, UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $280.00 to $318.00 in a report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $304.27.

Vulcan Materials Stock Up 1.4%

Shares of NYSE VMC opened at $295.92 on Thursday. The company has a market capitalization of $39.10 billion, a P/E ratio of 41.33, a price-to-earnings-growth ratio of 2.39 and a beta of 0.83. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31. 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 company's 50 day moving average price is $268.64 and its 200-day moving average price is $258.37.

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 the consensus estimate of $2.65 by ($0.20). The company 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 business's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.35 EPS. Equities analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 14th. Vulcan Materials's payout ratio is 27.37%.

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.

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