PNC Financial Services Group Inc. Has $13.13 Million Position in Vulcan Materials Company (NYSE:VMC)

Key Points

• PNC Financial Services Group Inc. increased its stake in Vulcan Materials by 18.0%, now holding 56,270 shares valued at approximately $13.13 million.
• Vulcan Materials reported a 2nd quarter EPS of $2.45, missing the consensus estimate of $2.65, with revenues of $2.10 billion compared to expectations of $2.23 billion.
• The company has announced a quarterly dividend of $0.49 per share, with an annualized dividend yield of 0.7%.

PNC Financial Services Group Inc. lifted its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 18.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,270 shares of the construction company's stock after purchasing an additional 8,567 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Vulcan Materials were worth $13,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new position in Vulcan Materials in the 1st quarter worth $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of Vulcan Materials during the fourth quarter valued at approximately $35,000. Wayfinding Financial LLC purchased a new stake in shares of Vulcan Materials during the 1st quarter worth $45,000. Fourth Dimension Wealth LLC acquired a new position in Vulcan Materials during the 4th quarter valued at about $46,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Vulcan Materials in the 1st quarter valued at approximately $54,000. 90.39% of the stock is owned by institutional investors.

Insider Transactions at Vulcan Materials

In other news, SVP David P. Clement sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $270.00, for a total value of $405,000.00. Following the completion of the transaction, the senior vice president owned 2,832 shares in the company, valued at $764,640. This represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.62% of the company's stock.

Vulcan Materials Stock Down 0.5%

VMC traded down $1.46 during midday trading on Wednesday, hitting $281.71. 785,507 shares of the company's stock traded hands, compared to its average volume of 1,055,312. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. Vulcan Materials Company has a one year low of $215.08 and a one year high of $298.31. The stock's fifty day simple moving average is $265.90 and its 200-day simple moving average is $257.74. The company has a market cap of $37.22 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.31 and a beta of 0.83.

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

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.49 per share. The ex-dividend date is 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 27.37%.

Analyst Ratings Changes

VMC has been the subject of a number of recent analyst reports. Barclays lifted their price objective on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Raymond James Financial decreased their target price on Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Citigroup reissued a "buy" rating and issued a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a research note on Monday. 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 for the company in a report on Friday, August 1st. Finally, Wolfe Research raised shares of Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research note on Thursday, April 10th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $304.27.

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.