Vulcan Materials Company (NYSE:VMC) Shares Acquired by Baker Avenue Asset Management LP

Key Points

• Baker Avenue Asset Management LP increased its stake in Vulcan Materials by 13.5%, now holding 36,772 shares valued at approximately $8.58 million.
• Several analysts have set new price targets for Vulcan Materials, with UBS Group raising its target from $280 to $318 and maintaining a "buy" rating.
• Vulcan Materials is set to pay a quarterly dividend of $0.49 per share on September 3rd, indicating an annualized yield of 0.7% with a payout ratio of 27.80%.

Baker Avenue Asset Management LP boosted its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,772 shares of the construction company's stock after buying an additional 4,370 shares during the period. Baker Avenue Asset Management LP's holdings in Vulcan Materials were worth $8,579,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Vulcan Materials in the first quarter worth $27,000. Kapitalo Investimentos Ltda acquired a new stake in Vulcan Materials in the fourth quarter worth $35,000. Fourth Dimension Wealth LLC acquired a new stake in Vulcan Materials in the fourth quarter worth $46,000. Wayfinding Financial LLC acquired a new stake in Vulcan Materials in the first quarter worth $45,000. Finally, Rakuten Securities Inc. acquired a new stake in Vulcan Materials in the first quarter worth $54,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 1,500 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $270.00, for a total transaction of $405,000.00. Following the completion of the sale, the senior vice president directly owned 2,832 shares of the company's stock, valued at $764,640. This represents a 34.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on VMC shares. Raymond James Financial dropped their target price on Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and increased their price target for the stock from $280.00 to $318.00 in a research note on Friday, May 16th. Wolfe Research raised Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research note on Thursday, April 10th. Stifel Nicolaus increased their price target on Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Stephens set a $315.00 price target on Vulcan Materials and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Vulcan Materials presently has an average rating of "Moderate Buy" and a consensus target price of $301.27.

Vulcan Materials Trading Up 1.0%

Shares of VMC stock opened at $275.41 on Friday. The stock has a 50-day simple moving average of $265.23 and a 200 day simple moving average of $257.53. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $298.31. The stock has a market capitalization of $36.38 billion, a P/E ratio of 39.07, a P/E/G ratio of 2.41 and a beta of 0.82. The company has a quick ratio of 1.51, a current ratio of 2.42 and a debt-to-equity ratio of 0.60.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced 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). Vulcan Materials had a net margin of 12.50% and a return on equity of 12.91%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the business earned $2.35 EPS. The company's quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.96 annualized dividend and a yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is currently 27.80%.

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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