Resona Asset Management Co. Ltd. Acquires 3,055 Shares of Vulcan Materials Company (NYSE:VMC)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Vulcan Materials Company by 8% during the 1st quarter, acquiring an additional 3,055 shares valued at $9.59 million.
• Vulcan Materials reported a Q2 earnings per share of $2.45, missing analysts' expectations of $2.65, while achieving a revenue of $2.10 billion.
• The company declared a quarterly dividend of $0.49 per share, reflecting an annualized yield of 0.7%, with the ex-dividend date set for August 14th.

Resona Asset Management Co. Ltd. lifted its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 8.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,107 shares of the construction company's stock after purchasing an additional 3,055 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Vulcan Materials were worth $9,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its position in Vulcan Materials by 21.0% in the 1st quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock worth $222,000 after buying an additional 165 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Vulcan Materials by 42.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock worth $3,686,000 after acquiring an additional 4,678 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Vulcan Materials by 24.3% in the first quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock worth $215,000 after acquiring an additional 180 shares during the period. GAMMA Investing LLC raised its holdings in shares of Vulcan Materials by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock valued at $398,000 after purchasing an additional 365 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Vulcan Materials by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock valued at $249,000 after purchasing an additional 51 shares during the period. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Performance

NYSE:VMC opened at $295.92 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. The stock has a 50-day simple moving average of $268.64 and a two-hundred day simple moving average of $258.37. The firm has a market capitalization of $39.10 billion, a PE ratio of 41.33, a P/E/G ratio of 2.39 and a beta of 0.83. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted 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). The company had revenue of $2.10 billion for 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 firm's quarterly 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. Analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 14th. Vulcan Materials's dividend payout ratio is presently 27.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VMC shares. Citigroup restated a "buy" rating and issued a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. 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. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $280.00 to $318.00 in a report on Friday, May 16th. Stifel Nicolaus upped their price objective on Vulcan Materials from $287.00 to $309.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Barclays increased their target price on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $304.27.

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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