Patton Fund Management Inc. Makes New $232,000 Investment in Vulcan Materials Company $VMC

Key Points

• Patton Fund Management Inc. invested approximately $232,000 in Vulcan Materials Company by acquiring 891 shares during the second quarter.
• Vulcan Materials reported earnings of $2.45 per share for the last quarter, missing consensus estimates of $2.65, and had quarterly revenue of $2.10 billion.
• The company announced a quarterly dividend of $0.49, resulting in an annualized yield of 0.7% with a dividend payout ratio of 27.37%.

Patton Fund Management Inc. acquired a new stake in Vulcan Materials Company (NYSE:VMC - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 891 shares of the construction company's stock, valued at approximately $232,000.

A number of other large investors also recently bought and sold shares of VMC. Opal Wealth Advisors LLC purchased a new position in shares of Vulcan Materials during the 1st quarter worth approximately $27,000. Manchester Capital Management LLC raised its position in Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after purchasing an additional 39 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Vulcan Materials in the first quarter worth approximately $45,000. Rakuten Securities Inc. purchased a new stake in shares of Vulcan Materials during the 1st quarter worth $54,000. Finally, Steph & Co. acquired a new position in shares of Vulcan Materials during the 2nd quarter worth about $55,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the sale, the senior vice president directly owned 2,832 shares in the company, valued at approximately $845,521.92. The trade was a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company's stock.

Vulcan Materials Trading Up 1.5%

NYSE VMC opened at $299.28 on Monday. The stock has a market capitalization of $39.54 billion, a P/E ratio of 41.80, a P/E/G ratio of 2.44 and a beta of 0.86. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $302.21. The firm has a 50-day moving average price of $287.89 and a 200 day moving average price of $266.71. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52.

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

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 14th. Vulcan Materials's dividend payout ratio (DPR) is presently 27.37%.

Analyst Ratings Changes

A number of research analysts recently commented on VMC shares. Royal Bank Of Canada dropped their target price on shares of 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. Morgan Stanley dropped their price target 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. Citigroup reiterated a "buy" rating and issued a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Barclays raised their target price on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $308.36.

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.

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