Royal Bank of Canada Has $80.56 Million Stake in Vulcan Materials Company $VMC

Key Points

• Royal Bank of Canada has increased its stake in Vulcan Materials Company by 3.2%, owning a total of 345,297 shares valued at approximately $80.56 million.
• Vulcan Materials experienced a quarterly earnings miss, reporting $2.45 EPS, falling short of analysts' expectations of $2.65, alongside a revenue of $2.10 billion compared to an estimate of $2.23 billion.
• Several analysts have adjusted their price targets for Vulcan Materials, with JPMorgan raising it from $285.00 to $330.00, reflecting a consensus rating of "Buy" with a target of approximately $308.36.

Royal Bank of Canada raised its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 345,297 shares of the construction company's stock after purchasing an additional 10,736 shares during the period. Royal Bank of Canada owned 0.26% of Vulcan Materials worth $80,560,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Manchester Capital Management LLC boosted 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 worth $43,000 after purchasing an additional 39 shares during the period. DRW Securities LLC increased its stake in shares of Vulcan Materials by 2.6% during the first quarter. DRW Securities LLC now owns 1,748 shares of the construction company's stock valued at $408,000 after buying an additional 45 shares during the period. Alpha Omega Wealth Management LLC boosted its position in shares of Vulcan Materials by 1.1% during the first quarter. Alpha Omega Wealth Management LLC now owns 4,336 shares of the construction company's stock valued at $1,012,000 after buying an additional 46 shares during the last quarter. Wellington Management Group LLP raised its stake in Vulcan Materials by 5.6% during the 4th 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. Finally, Marks Group Wealth Management Inc lifted its stake in shares of Vulcan Materials by 2.7% during the 1st quarter. Marks Group Wealth Management Inc now owns 2,203 shares of the construction company's stock worth $514,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Trading Up 1.1%

NYSE VMC traded up $3.38 on Monday, hitting $298.19. 462,864 shares of the stock were exchanged, compared to its average volume of 1,033,229. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $299.29. The firm has a market capitalization of $39.40 billion, a P/E ratio of 41.66, a P/E/G ratio of 2.41 and a beta of 0.86. The stock has a fifty day moving average price of $278.81 and a two-hundred day moving average price of $260.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.Vulcan Materials's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.35 EPS. Research analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

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

Analyst Ratings Changes

VMC has been the subject of a number of research analyst reports. 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. Royal Bank Of Canada dropped their price target on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Morgan Stanley decreased their price target on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday, July 28th. UBS Group raised shares of Vulcan Materials from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Finally, Citigroup restated a "buy" rating and issued a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Vulcan Materials presently has an average rating of "Buy" and a consensus target price 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.