Taikang Asset Management Hong Kong Co Ltd Buys New Stake in Vulcan Materials Company $VMC

Key Points

• Taikang Asset Management Hong Kong Co Ltd has acquired a new stake in Vulcan Materials Company, purchasing 9,262 shares valued at approximately $2,161,000 in the first quarter.
• Vulcan Materials reported earnings per share (EPS) of $2.45 for the last quarter, missing analysts' expectations and marking a 4.4% revenue increase compared to the previous year.
• The company announced a quarterly dividend of $0.49 per share, providing a 0.7% dividend yield, with the next payment scheduled for September 3rd.

Taikang Asset Management Hong Kong Co Ltd purchased a new position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,262 shares of the construction company's stock, valued at approximately $2,161,000.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Vulcan Materials in the first quarter valued at about $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Vulcan Materials in the fourth quarter valued at about $35,000. Manchester Capital Management LLC lifted its stake in shares of Vulcan Materials by 26.9% in 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 during the period. Wayfinding Financial LLC acquired a new stake in shares of Vulcan Materials in the first quarter valued at about $45,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Vulcan Materials in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $292.2970 on Monday. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $298.31. The firm has a 50 day moving average price of $272.36 and a 200 day moving average price of $258.96. The company has a market cap of $38.62 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 2.39 and a beta of 0.83. 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 released its earnings results 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 company 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 for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Sell-side analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

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

Wall Street Analysts Forecast Growth

VMC has been the subject of several recent analyst reports. Stephens set a $315.00 price objective on shares of Vulcan Materials and gave the company an "overweight" rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted their target price on shares of Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Citigroup restated a "buy" rating and set a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Morgan Stanley cut their target price 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. Finally, UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $304.27.

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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