QRG Capital Management Inc. Buys 2,891 Shares of Vulcan Materials Company $VMC

Key Points

• QRG Capital Management Inc. increased its stake in Vulcan Materials Company by 21.3%, owning a total of 16,477 shares valued at approximately $4.3 million following the purchase of 2,891 additional shares in Q2.
• Vulcan Materials recently reported earnings of $2.45 per share for the last quarter, falling short of analyst estimates of $2.65, alongside a revenue of $2.10 billion, which also missed expectations of $2.23 billion.
• The company declared a quarterly dividend of $0.49 per share, representing an annualized yield of 0.6% with a dividend payout ratio of 27.37%.

QRG Capital Management Inc. raised its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 21.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,477 shares of the construction company's stock after purchasing an additional 2,891 shares during the quarter. QRG Capital Management Inc.'s holdings in Vulcan Materials were worth $4,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Unified Investment Management lifted its holdings in shares of Vulcan Materials by 1.7% during the 2nd quarter. Unified Investment Management now owns 2,259 shares of the construction company's stock worth $589,000 after acquiring an additional 38 shares during the last quarter. Manchester Capital Management LLC raised its position in Vulcan Materials by 26.9% during the first 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. Chemistry Wealth Management LLC lifted its stake in Vulcan Materials by 3.0% during the second quarter. Chemistry Wealth Management LLC now owns 1,343 shares of the construction company's stock worth $350,000 after purchasing an additional 39 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Vulcan Materials by 86.3% in the 2nd quarter. ORG Partners LLC now owns 95 shares of the construction company's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Finally, DRW Securities LLC increased its position in shares of Vulcan Materials by 2.6% during the 1st quarter. DRW Securities LLC now owns 1,748 shares of the construction company's stock valued at $408,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Vulcan Materials Trading Up 0.1%

NYSE:VMC opened at $304.88 on Tuesday. The firm has a market capitalization of $40.28 billion, a P/E ratio of 42.58, a P/E/G ratio of 2.49 and a beta of 0.92. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $292.05 and a 200 day moving average of $269.57. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $309.17.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings data 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 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%. Vulcan Materials's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.35 EPS. On average, research analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th were given a dividend of $0.49 per share. 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 0.6%. Vulcan Materials's dividend payout ratio is presently 27.37%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VMC. JPMorgan Chase & Co. boosted their target price on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada lowered 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vulcan Materials in a report on Saturday, September 27th. Citigroup reissued a "buy" rating and issued a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Finally, Morgan Stanley cut 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. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $308.36.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.

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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