Pallas Capital Advisors LLC Has $983,000 Stake in Vulcan Materials Company $VMC

Key Points

• Pallas Capital Advisors LLC increased its stake in Vulcan Materials Company by 50.4% in Q2, owning 3,770 shares worth $983,000.
• Vulcan Materials reported a quarterly net revenue of $2.10 billion but missed earnings per share estimates by $0.20, posting earnings of $2.45.
• The company recently announced a dividend of $0.49 per share, with a yield of 0.7% and a dividend payout ratio of 27.37%.

Pallas Capital Advisors LLC boosted its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 50.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,770 shares of the construction company's stock after acquiring an additional 1,264 shares during the quarter. Pallas Capital Advisors LLC's holdings in Vulcan Materials were worth $983,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in shares of Vulcan Materials during the 1st quarter valued at approximately $27,000. Manchester Capital Management LLC boosted its stake in shares of Vulcan Materials by 26.9% during the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after buying an additional 39 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Vulcan Materials during the 1st quarter valued at approximately $45,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Vulcan Materials during the 4th quarter valued at approximately $46,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Vulcan Materials during the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the transaction, the senior vice president owned 2,832 shares of the company's stock, valued at approximately $845,521.92. This trade represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup reissued a "buy" rating and set a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Royal Bank Of Canada dropped their price target on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Barclays increased their target price on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley cut their target price on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. raised their target price on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $308.36.

Vulcan Materials Price Performance

VMC stock traded up $0.66 during trading on Tuesday, hitting $299.55. The company had a trading volume of 42,539 shares, compared to its average volume of 1,012,548. The business has a 50 day moving average of $285.24 and a 200 day moving average of $264.71. The firm has a market capitalization of $39.58 billion, a price-to-earnings ratio of 41.86, a P/E/G ratio of 2.43 and a beta of 0.86. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $302.21. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.Vulcan Materials's revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 earnings per share. As a group, research analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

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