The Manufacturers Life Insurance Company Takes Position in Vulcan Materials Company $VMC

Key Points

• The Manufacturers Life Insurance Company acquired 1.53 million Vulcan Materials shares worth approximately $451.1 million, representing about 1.18% of the company. Institutional investors and hedge funds collectively own 90.39% of VMC.
• Vulcan Materials reported quarterly EPS of $2.59, beating estimates of $2.46, while revenue rose 2.5% year over year to $2.16 billion. The company also declared a quarterly dividend of $0.52 per share, implying an annualized yield of 0.8%.
• Analysts maintain a generally positive view, with eight Buy and eight Hold ratings and an average price target of $327.93, compared with the stock’s reported price of $275.87. Shares recently traded below their 50-day and 200-day moving averages.

The Manufacturers Life Insurance Company acquired a new position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,529,164 shares of the construction company's stock, valued at approximately $451,119,000. The Manufacturers Life Insurance Company owned approximately 1.18% of Vulcan Materials as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Atria Investments Inc lifted its holdings in Vulcan Materials by 54.1% during the 4th quarter. Atria Investments Inc now owns 12,334 shares of the construction company's stock worth $3,518,000 after buying an additional 4,331 shares during the last quarter. SCS Capital Management LLC purchased a new position in shares of Vulcan Materials in the 2nd quarter valued at about $19,628,000. BlackRock Inc. purchased a new position in shares of Vulcan Materials in the 2nd quarter valued at about $2,868,444,000. Westfield Capital Management Co. LP raised its position in shares of Vulcan Materials by 7.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company's stock worth $72,459,000 after acquiring an additional 17,488 shares in the last quarter. Finally, Palmer Knight Co purchased a new stake in Vulcan Materials during the second quarter worth approximately $9,458,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $275.87 on Tuesday. The stock has a market cap of $35.75 billion, a P/E ratio of 32.57, a P/E/G ratio of 1.99 and a beta of 1.06. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09. The stock has a 50 day moving average of $288.85 and a two-hundred day moving average of $287.23. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47.

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

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. Vulcan Materials's dividend payout ratio (DPR) is currently 24.56%.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the transaction, the senior vice president owned 8,716 shares of the company's stock, valued at approximately $2,547,599.64. The trade was a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on VMC shares. Wall Street Zen cut shares of Vulcan Materials from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Berenberg Bank set a $283.00 target price on shares of Vulcan Materials and gave the company a "hold" rating in a research report on Tuesday, June 2nd. Citigroup dropped their target price on shares of Vulcan Materials from $355.00 to $350.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Stephens boosted their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada upped their price objective on shares of Vulcan Materials from $293.00 to $300.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Vulcan Materials presently has an average rating of "Moderate Buy" and an average price target of $327.93.

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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