Oppenheimer Asset Management Inc. Increases Stock Holdings in Vulcan Materials Company (NYSE:VMC)

Oppenheimer Asset Management Inc. raised its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 23.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 17,369 shares of the construction company's stock after purchasing an additional 3,315 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Vulcan Materials were worth $4,052,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in VMC. Opal Wealth Advisors LLC purchased a new position in Vulcan Materials in the 1st quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in Vulcan Materials in the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in Vulcan Materials in the fourth quarter valued at approximately $31,000. Generali Asset Management SPA SGR purchased a new stake in shares of Vulcan Materials in the fourth quarter valued at approximately $32,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Vulcan Materials during the 4th quarter worth approximately $35,000. 90.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VMC has been the topic of several research analyst reports. UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and lifted their target price for the company from $280.00 to $318.00 in a research report on Friday, May 16th. Stifel Nicolaus upped their price objective on shares of Vulcan Materials from $287.00 to $309.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Seaport Res Ptn raised shares of Vulcan Materials to a "strong-buy" rating in a research note on Friday, March 21st. Argus upgraded Vulcan Materials to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Citigroup restated a "buy" rating on shares of Vulcan Materials in a research report on Monday, March 24th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $302.91.

Vulcan Materials Stock Performance

Vulcan Materials stock traded up $4.76 during mid-day trading on Friday, reaching $261.72. 147,498 shares of the company were exchanged, compared to its average volume of 1,069,523. Vulcan Materials Company has a twelve month low of $215.08 and a twelve month high of $298.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.51 and a current ratio of 2.42. The firm's 50-day simple moving average is $262.01 and its two-hundred day simple moving average is $256.76. The firm has a market cap of $34.57 billion, a PE ratio of 37.12, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.20. Vulcan Materials had a net margin of 12.50% and a return on equity of 12.91%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. Equities analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.49 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.75%. Vulcan Materials's dividend payout ratio (DPR) is presently 27.80%.

Insider Activity

In other Vulcan Materials news, SVP David P. Clement sold 1,500 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $270.00, for a total transaction of $405,000.00. Following the transaction, the senior vice president now directly owns 2,832 shares in the company, valued at approximately $764,640. This represents a 34.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.62% of the company's stock.

Vulcan Materials Company 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.