Vulcan Materials Company $VMC Stake Boosted by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its stake in Vulcan Materials by 394.4% in the fourth quarter, buying 173,580 additional shares and bringing its total to 217,587 shares worth about $62.1 million.
• Vulcan Materials reported strong quarterly results, posting earnings of $1.35 per share versus the $1.10 estimate and revenue of $1.76 billion versus expectations of $1.64 billion. Revenue rose 7.4% year over year.
• The company recently paid a quarterly dividend of $0.52 per share, equal to $2.08 annually for a yield of 0.7%, while analysts currently have a consensus Hold rating with an average target price of $326.92.

Engineers Gate Manager LP lifted its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 394.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,587 shares of the construction company's stock after buying an additional 173,580 shares during the period. Vulcan Materials comprises approximately 0.7% of Engineers Gate Manager LP's portfolio, making the stock its 17th biggest position. Engineers Gate Manager LP owned about 0.16% of Vulcan Materials worth $62,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. NBT Bank N A NY acquired a new position in Vulcan Materials during the 4th quarter worth $26,000. Measured Wealth Private Client Group LLC acquired a new position in Vulcan Materials during the 3rd quarter worth $30,000. Godsey & Gibb Inc. acquired a new position in Vulcan Materials during the 4th quarter worth $30,000. WPG Advisers LLC lifted its position in Vulcan Materials by 56.4% during the 4th quarter. WPG Advisers LLC now owns 122 shares of the construction company's stock worth $35,000 after acquiring an additional 44 shares during the last quarter. Finally, Concord Wealth Partners acquired a new position in Vulcan Materials during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Performance

NYSE:VMC opened at $294.34 on Thursday. The stock has a market cap of $38.19 billion, a P/E ratio of 35.00, a PEG ratio of 2.17 and a beta of 1.05. The stock has a 50 day simple moving average of $283.56 and a 200 day simple moving average of $290.08. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a 1-year low of $252.35 and a 1-year high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.25. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $1.00 EPS. Research analysts anticipate that Vulcan Materials Company will post 9.28 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials's payout ratio is currently 24.73%.

Wall Street Analysts Forecast Growth

VMC has been the subject of several recent analyst reports. Raymond James Financial set a $325.00 target price on shares of Vulcan Materials in a research note on Thursday, April 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $320.00 target price (down from $335.00) on shares of Vulcan Materials in a report on Wednesday, March 4th. Wall Street Zen raised shares of Vulcan Materials from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Truist Financial upped their target price on shares of Vulcan Materials from $320.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Finally, Oppenheimer began coverage on shares of Vulcan Materials in a research report on Thursday, May 28th. They set a "market perform" rating for the company. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Vulcan Materials has an average rating of "Hold" and a consensus target price of $326.92.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the sale, the senior vice president owned 8,716 shares of the company's stock, valued at $2,547,599.64. The trade was a 20.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.65% of the stock is owned by corporate insiders.

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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