OP Asset Management Ltd Buys New Position in Vulcan Materials Company $VMC

Key Points

• OP Asset Management opened a new position in Vulcan Materials during the first quarter, buying 13,388 shares valued at about $3.65 million.
• Insider selling was also reported, with SVP David P. Clement selling 2,212 shares for roughly $646,545, cutting his ownership by about 20%.
• Vulcan Materials recently beat quarterly estimates with EPS of $1.35 and revenue of $1.76 billion, and it also paid a quarterly dividend of $0.52 per share.

OP Asset Management Ltd bought a new stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,388 shares of the construction company's stock, valued at approximately $3,646,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. NBT Bank N A NY purchased a new position in Vulcan Materials during the 4th quarter worth $26,000. Birchwood Financial Partners Inc. purchased a new stake in shares of Vulcan Materials in the fourth quarter valued at about $29,000. Godsey & Gibb Inc. purchased a new stake in shares of Vulcan Materials in the fourth quarter valued at about $30,000. Measured Wealth Private Client Group LLC bought a new position in shares of Vulcan Materials during the third quarter valued at about $30,000. Finally, WPG Advisers LLC lifted its position in shares of Vulcan Materials by 56.4% during the fourth quarter. WPG Advisers LLC now owns 122 shares of the construction company's stock valued at $35,000 after purchasing an additional 44 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the business's stock in a transaction 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 directly owned 8,716 shares in the company, valued at $2,547,599.64. The trade was a 20.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

VMC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $320.00 price objective (down from $335.00) on shares of Vulcan Materials in a research report on Wednesday, March 4th. Oppenheimer started coverage on shares of Vulcan Materials in a research note on Thursday, May 28th. They issued a "market perform" rating for the company. Barclays lifted their target price on shares of Vulcan Materials from $296.00 to $340.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Citigroup reduced their target price on Vulcan Materials from $365.00 to $355.00 and set a "buy" rating for the company in a report on Friday, May 1st. Finally, Stephens increased their price target on Vulcan Materials from $330.00 to $340.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $326.92.

Vulcan Materials Price Performance

VMC opened at $311.37 on Friday. The firm has a market cap of $40.40 billion, a P/E ratio of 37.02, a PEG ratio of 2.26 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. The firm has a 50-day moving average of $285.54 and a 200 day moving average of $290.74.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.25. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. Vulcan Materials's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. On average, research analysts expect that Vulcan Materials Company will post 9.28 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 22nd. Vulcan Materials's dividend payout ratio (DPR) is currently 24.73%.

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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