Silvant Capital Management LLC Buys New Shares in Vulcan Materials Company $VMC

Key Points

• Silvant Capital Management initiated a 119,115-share Vulcan Materials position worth approximately $35.1 million, representing 1% of its portfolio. Institutional investors collectively own 90.39% of the company.
• Vulcan Materials exceeded quarterly expectations, reporting $2.59 in EPS versus a $2.46 consensus estimate and $2.16 billion in revenue, up 2.5% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $327.93, while the stock recently traded at $270.63. The company also announced a quarterly dividend of $0.52 per share, yielding about 0.8%.

Silvant Capital Management LLC acquired a new stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 119,115 shares of the construction company's stock, valued at approximately $35,140,000. Vulcan Materials accounts for approximately 1.0% of Silvant Capital Management LLC's portfolio, making the stock its 22nd biggest position. Silvant Capital Management LLC owned approximately 0.09% of Vulcan Materials at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ceredex Value Advisors LLC purchased a new position in shares of Vulcan Materials during the 2nd quarter valued at $42,522,000. Portfolio Design Labs LLC purchased a new stake in Vulcan Materials in the 2nd quarter worth $451,000. Advisors Capital Management LLC purchased a new stake in Vulcan Materials in the 2nd quarter worth $248,000. PCM Encore LLC purchased a new stake in Vulcan Materials in the 2nd quarter worth $309,000. Finally, Vise Technologies Inc. bought a new stake in Vulcan Materials during the second quarter valued at about $860,000. 90.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president owned 6,716 shares in the company, valued at $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VMC. Raymond James Financial restated an "outperform" rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Stifel Nicolaus set a $333.00 target price on Vulcan Materials in a research note on Thursday, April 30th. Wall Street Zen cut Vulcan Materials from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Citigroup dropped their price target on Vulcan Materials from $355.00 to $350.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, UBS Group dropped their price target on Vulcan Materials from $350.00 to $349.00 and set a "buy" rating for the company in a research note on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $327.93.

Vulcan Materials Stock Down 2.1%

Shares of VMC opened at $270.63 on Friday. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $289.41 and a 200 day moving average of $287.69. The company has a market cap of $35.07 billion, a PE ratio of 31.95, a P/E/G ratio of 1.99 and a beta of 1.06.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.46 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The firm's revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 EPS. On average, sell-side analysts expect that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials's dividend payout ratio is 24.56%.

Vulcan Materials Profile

Vulcan Materials Company NYSE: VMC is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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