Vulcan Materials Company $VMC Shares Newly Acquired by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA acquired 15,277 Vulcan Materials shares worth approximately $3.7 million during the third quarter. Institutional investors collectively own 90.39% of the company.
• Vulcan Materials reported quarterly earnings of $2.59 per share, exceeding estimates of $2.46, while revenue rose 2.5% year over year to $2.16 billion.
• The company declared a quarterly dividend of $0.52 per share, equivalent to an annualized $2.08 payout and a 0.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $310.79.

Banque Pictet & Cie SA bought a new stake in Vulcan Materials Company (NYSE:VMC - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,277 shares of the construction company's stock, valued at approximately $3,737,000.

A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Vulcan Materials during the 2nd quarter worth approximately $2,868,444,000. Bank of America Corp DE acquired a new stake in Vulcan Materials during the 2nd quarter valued at approximately $688,580,000. The Manufacturers Life Insurance Company acquired a new stake in Vulcan Materials during the 2nd quarter valued at approximately $451,119,000. Dimensional Fund Advisors LP boosted its holdings in shares of Vulcan Materials by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company's stock valued at $366,592,000 after acquiring an additional 24,187 shares during the last quarter. Finally, Stockbridge Partners LLC purchased a new stake in shares of Vulcan Materials in the 2nd quarter valued at $314,470,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In other news, Director J. Hill sold 14,000 shares of Vulcan Materials stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the transaction, the director directly owned 58,209 shares of the company's stock, valued at $16,075,579.53. The trade was a 19.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Clement sold 2,000 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the transaction, the senior vice president owned 6,716 shares of the company's stock, valued at approximately $1,914,731.60. This represents a 22.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is owned by company insiders.

Vulcan Materials Stock Up 1.9%

Vulcan Materials stock opened at $257.26 on Friday. The firm has a market cap of $33.34 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 2.60 and a beta of 1.05. Vulcan Materials Company has a 52 week low of $237.03 and a 52 week high of $331.09. The business's 50-day moving average price is $257.91 and its 200 day moving average price is $276.37. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.13. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same period last year, the business earned $2.42 earnings per share. Vulcan Materials's quarterly revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Vulcan Materials Company will post 9.10 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, November 9th. 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 presently 24.56%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Raymond James Financial cut their price objective on shares of Vulcan Materials from $320.00 to $308.00 and set an "outperform" rating on the stock in a research note on Friday. Truist Financial reduced their target price on shares of Vulcan Materials from $360.00 to $320.00 and set a "buy" rating for the company in a report on Monday, October 5th. Wall Street Zen downgraded shares of Vulcan Materials from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Vulcan Materials in a report on Monday, September 21st. Finally, Royal Bank Of Canada lowered their price target on shares of Vulcan Materials from $300.00 to $256.00 and set a "sector perform" rating on the stock in a report on Friday, October 9th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $310.79.

Vulcan Materials Profile

Vulcan Materials Company NYSE: VMC is a major producer and supplier of construction materials in the United States. The company primarily produces and distributes construction aggregates, including crushed stone, sand and gravel, which are used in infrastructure, commercial, residential and industrial projects.

In addition to aggregates, Vulcan produces asphalt mix and ready-mixed concrete and provides related construction-material services. Its products support highways, bridges, airports, buildings and other essential infrastructure.

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