Citigroup Inc. Boosts Position in Vulcan Materials Company (NYSE:VMC)

Key Points

• Citigroup Inc. raised its stake in Vulcan Materials Company by 64.0%, now owning 144,372 shares valued at approximately $33.68 million.
• Vulcan Materials reported earnings of $2.45 per share for the last quarter, falling short of analyst expectations of $2.65, with revenue of $2.10 billion.
• The company declared a quarterly dividend of $0.49 per share, reflecting an annual yield of 0.7% and a payout ratio of 27.37%.

Citigroup Inc. raised its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 64.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,372 shares of the construction company's stock after acquiring an additional 56,354 shares during the period. Citigroup Inc. owned about 0.11% of Vulcan Materials worth $33,682,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Vulcan Materials by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company's stock valued at $3,896,031,000 after acquiring an additional 347,155 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of 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 worth $1,518,291,000 after purchasing an additional 445,691 shares during the period. Stockbridge Partners LLC raised its stake in shares of Vulcan Materials by 11.3% during the 4th quarter. Stockbridge Partners LLC now owns 1,746,482 shares of the construction company's stock worth $449,248,000 after purchasing an additional 177,918 shares during the period. Alkeon Capital Management LLC raised its stake in shares of Vulcan Materials by 54.1% during the 4th quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock worth $329,769,000 after purchasing an additional 450,000 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Vulcan Materials by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 928,469 shares of the construction company's stock worth $238,831,000 after purchasing an additional 50,327 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Performance

Vulcan Materials stock traded up $4.03 during midday trading on Wednesday, reaching $295.92. The stock had a trading volume of 1,125,738 shares, compared to its average volume of 1,032,358. Vulcan Materials Company has a 12 month low of $215.08 and a 12 month high of $298.31. The firm's 50-day moving average price is $268.64 and its 200 day moving average price is $258.37. The firm has a market capitalization of $39.10 billion, a PE ratio of 41.33, a P/E/G ratio of 2.39 and a beta of 0.83. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data 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). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the firm posted $2.35 earnings per share. The company's revenue was up 4.4% on a year-over-year basis. As a group, research analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

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

Analysts Set New Price Targets

VMC has been the topic of a number of recent analyst reports. Argus upgraded Vulcan Materials to a "strong-buy" rating in a research note on Thursday, April 24th. Barclays lifted their target price on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada lowered their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Raymond James Financial lowered their target price on Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Finally, Morgan Stanley lowered their target price on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Monday, July 28th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $304.27.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 1,500 shares of Vulcan Materials stock in a transaction dated 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 transaction, the senior vice president owned 2,832 shares of the company's stock, valued at $764,640. The trade was a 34.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is owned by insiders.

Vulcan Materials 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.