OMERS ADMINISTRATION Corp Raises Position in Vulcan Materials Company $VMC

Key Points

• OMERS Administration increased its Vulcan Materials stake by 47.5% in the first quarter, adding 4,688 shares to own 14,564 shares valued at approximately $3.97 million. Institutional investors collectively own 90.39% of the company.
• Vulcan Materials exceeded quarterly expectations, reporting $1.35 in EPS and $1.76 billion in revenue, with revenue up 7.4% year over year. Analysts forecast $9.30 in EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.52 per share, equivalent to a $2.08 annualized payout and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $327.79, versus a recent share price of $284.53.

OMERS ADMINISTRATION Corp lifted its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 47.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,564 shares of the construction company's stock after acquiring an additional 4,688 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Vulcan Materials were worth $3,966,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. NBT Bank N A NY purchased a new stake in Vulcan Materials in the 4th quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its holdings in shares of Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company's stock valued at $28,000 after buying an additional 43 shares during the period. Birchwood Financial Partners Inc. acquired a new stake in shares of Vulcan Materials in the 4th quarter valued at approximately $29,000. Godsey & Gibb Inc. purchased a new stake in shares of Vulcan Materials in the fourth quarter valued at approximately $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Vulcan Materials in the third quarter valued at approximately $30,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $284.53 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The company's 50-day moving average price is $287.14 and its 200 day moving average price is $290.44. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The stock has a market cap of $36.92 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 2.01 and a beta of 1.05.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that Vulcan Materials Company will post 9.3 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 given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 13th. Vulcan Materials's payout ratio is currently 24.73%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stephens increased their price objective on Vulcan Materials from $330.00 to $340.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Wells Fargo & Company decreased 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 research report on Wednesday, July 8th. Citigroup cut their price target on shares of Vulcan Materials from $365.00 to $355.00 and set a "buy" rating for the company in a report on Friday, May 1st. Barclays raised their price objective on shares of Vulcan Materials from $296.00 to $340.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Finally, Morgan Stanley lowered their target price on shares of Vulcan Materials from $322.00 to $321.00 and set an "equal weight" rating on the stock in a research report on Monday, April 6th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Vulcan Materials presently has an average rating of "Moderate Buy" and an average target price of $327.79.

Insider Activity

In related news, SVP David P. Clement sold 2,212 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the sale, the senior vice president owned 8,716 shares of the company's stock, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Vulcan Materials Company Profile

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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