Public Employees Retirement System of Ohio Purchases 1,300 Shares of Vulcan Materials Company $VMC

Key Points

• The Public Employees Retirement System of Ohio has increased its stake in Vulcan Materials Company by 2.0%, acquiring an additional 1,300 shares, totaling 64,762 shares valued at approximately $16.89 million.
• Vulcan Materials recently reported earnings of $2.45 EPS, missing estimates, with revenue of $2.10 billion against expectations of $2.23 billion.
• The company announced a quarterly dividend of $0.49 per share, reflecting an annualized yield of 0.7% and a payout ratio of 27.37%.

Public Employees Retirement System of Ohio increased its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,762 shares of the construction company's stock after acquiring an additional 1,300 shares during the period. Public Employees Retirement System of Ohio's holdings in Vulcan Materials were worth $16,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VMC. Opal Wealth Advisors LLC acquired a new stake in Vulcan Materials in the 1st quarter valued at $27,000. Manchester Capital Management LLC boosted its holdings 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 worth $43,000 after buying an additional 39 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Vulcan Materials during the 1st quarter worth about $45,000. Rakuten Securities Inc. bought a new stake in shares of Vulcan Materials during the 1st quarter worth about $54,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Vulcan Materials by 866.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 232 shares of the construction company's stock worth $61,000 after buying an additional 208 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vulcan Materials

In related news, SVP David P. Clement sold 698 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the sale, the senior vice president owned 2,832 shares in the company, valued at approximately $845,521.92. This trade represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.62% of the company's stock.

Vulcan Materials Stock Performance

Shares of VMC stock opened at $294.87 on Friday. The firm has a 50-day moving average of $287.24 and a 200-day moving average of $265.64. The company has a market cap of $38.96 billion, a P/E ratio of 41.18, a P/E/G ratio of 2.40 and a beta of 0.86. 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 $302.21.

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

Vulcan Materials Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank Of Canada cut their price objective 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. Citigroup reiterated a "buy" rating and set a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Morgan Stanley decreased their price target on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Finally, Barclays upped their price objective on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $308.36.

About Vulcan Materials

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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