W1M Asset Management Ltd Takes Position in Vulcan Materials Company $VMC

Key Points

• W1M Asset Management acquired 570,288 shares of Vulcan Materials in the second quarter, valued at approximately $168.2 million. The position represents about 1.5% of W1M’s portfolio and 0.44% of Vulcan’s outstanding shares.
• Vulcan Materials exceeded quarterly expectations, reporting $2.59 in EPS versus the $2.46 consensus estimate and $2.16 billion in revenue, up 2.5% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $327.93. The company also announced a quarterly dividend of $0.52 per share, equivalent to a 0.8% annualized yield.

W1M Asset Management Ltd acquired a new position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 570,288 shares of the construction company's stock, valued at approximately $168,186,000. Vulcan Materials comprises approximately 1.5% of W1M Asset Management Ltd's investment portfolio, making the stock its 22nd biggest position. W1M Asset Management Ltd owned 0.44% of Vulcan Materials at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in Vulcan Materials during the fourth quarter worth $497,000. NewEdge Advisors LLC grew its holdings in shares of Vulcan Materials by 3.9% in the first quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company's stock valued at $1,017,000 after purchasing an additional 163 shares in the last quarter. Empowered Funds LLC boosted its position in Vulcan Materials by 6.3% in the 1st quarter. Empowered Funds LLC now owns 3,195 shares of the construction company's stock valued at $745,000 after buying an additional 190 shares during the period. Focus Partners Wealth increased its position in shares of Vulcan Materials by 28.5% during the first quarter. Focus Partners Wealth now owns 3,321 shares of the construction company's stock worth $775,000 after acquiring an additional 736 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Vulcan Materials by 31.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company's stock worth $78,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Price Performance

VMC stock opened at $275.48 on Friday. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The company has a market cap of $35.70 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 1.99 and a beta of 1.06. The firm has a 50 day moving average of $289.19 and a 200-day moving average of $287.61. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company posted $2.42 EPS. The business's revenue was up 2.5% on a year-over-year basis. As a group, equities analysts expect that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 13th. 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%.

Analysts Set New Price Targets

VMC has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on Vulcan Materials from $350.00 to $349.00 and set a "buy" rating on the stock in a report on Wednesday, July 8th. Oppenheimer assumed coverage on Vulcan Materials in a research note on Thursday, May 28th. They set a "market perform" rating on the stock. Wells Fargo & Company cut their target price on shares of Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Citigroup reduced their target price on shares of Vulcan Materials from $355.00 to $350.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vulcan Materials in a research report on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $327.93.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of Vulcan Materials stock in a transaction that occurred on 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 directly owned 8,716 shares of the company's stock, valued at approximately $2,547,599.64. The trade was a 20.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company's stock.

About Vulcan Materials

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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