UniSuper Management Pty Ltd Grows Stake in Vulcan Materials Company $VMC

Key Points

• UniSuper Management Pty Ltd increased its stake in Vulcan Materials Company by 9.1%, now holding 12,880 shares valued at approximately $3 million.
• Several institutional investors, including Vanguard and JPMorgan Chase, have also raised their stakes, indicating strong investor confidence, as institutional holdings now account for 90.39% of the company's stock.
• Vulcan Materials reported a miss in earnings for the last quarter, posting $2.45 per share against an estimate of $2.65, while revenue fell short of expectations at $2.10 billion.

UniSuper Management Pty Ltd lifted its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,880 shares of the construction company's stock after purchasing an additional 1,079 shares during the period. UniSuper Management Pty Ltd's holdings in Vulcan Materials were worth $3,005,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Vulcan Materials by 2.1% during the first quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company's stock worth $3,896,031,000 after purchasing an additional 347,155 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Vulcan Materials by 5.6% during the 1st quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company's stock valued at $1,625,583,000 after acquiring an additional 370,434 shares in the last quarter. Principal Financial Group Inc. grew its stake in Vulcan Materials by 7.4% during the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock valued at $1,518,291,000 after acquiring an additional 445,691 shares in the last quarter. Stockbridge Partners LLC grew its stake in Vulcan Materials by 11.3% during the 4th quarter. Stockbridge Partners LLC now owns 1,746,482 shares of the construction company's stock valued at $449,248,000 after acquiring an additional 177,918 shares in the last quarter. Finally, Alkeon Capital Management LLC grew its stake in Vulcan Materials by 4.4% during the 1st quarter. Alkeon Capital Management LLC now owns 1,338,346 shares of the construction company's stock valued at $312,236,000 after acquiring an additional 56,345 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Performance

NYSE:VMC opened at $292.30 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. The firm has a market capitalization of $38.62 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 2.44 and a beta of 0.86. The company's 50-day moving average is $280.13 and its two-hundred day moving average is $261.14. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $299.29.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.20). The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business'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 earned $2.35 earnings per share. Analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were issued a $0.49 dividend. 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 dividend payout ratio is currently 27.37%.

Analyst Ratings Changes

Several brokerages recently issued reports on VMC. Royal Bank Of Canada dropped their price objective on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. Morgan Stanley dropped their price objective on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research note on Monday, July 28th. Citigroup reaffirmed a "buy" rating and set a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Finally, Barclays upped their price objective on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. 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. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $308.36.

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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