BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Holdings in Vulcan Materials Company $VMC

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Vulcan Materials Company by 6.1% in Q1, holding approximately 0.10% of the company worth nearly $30 million.
• Vulcan Materials reported Q2 earnings of $2.45 EPS, missing estimates by $0.20, with revenue of $2.10 billion, below analyst expectations of $2.23 billion.
• The company announced a quarterly dividend of $0.49, payable on September 3rd, with a current dividend yield of 0.7%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 128,503 shares of the construction company's stock after purchasing an additional 7,394 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.10% of Vulcan Materials worth $29,980,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Vulcan Materials in the 1st quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new stake in Vulcan Materials in the 4th quarter worth approximately $35,000. Manchester Capital Management LLC increased its stake in Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock worth $43,000 after acquiring an additional 39 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Vulcan Materials in the 1st quarter worth approximately $45,000. Finally, Fourth Dimension Wealth LLC bought a new stake in Vulcan Materials in the 4th quarter worth approximately $46,000. Institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Up 0.1%

NYSE:VMC traded up $0.28 during mid-day trading on Friday, hitting $291.44. 83,771 shares of the company's stock traded hands, compared to its average volume of 1,036,050. The company has a fifty day moving average of $274.94 and a 200 day moving average of $259.69. Vulcan Materials Company has a twelve month low of $215.08 and a twelve month high of $298.31. The company has a market capitalization of $38.51 billion, a P/E ratio of 40.70, a P/E/G ratio of 2.38 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67.

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 (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the company earned $2.35 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays lifted their price objective on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Stifel Nicolaus lifted their price objective on Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $280.00 to $318.00 in a research note on Friday, May 16th. Morgan Stanley dropped their target price on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. lifted their target price on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $308.36.

About Vulcan Materials

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.