Woodline Partners LP Purchases 125,929 Shares of Vulcan Materials Company $VMC

Key Points

• Woodline Partners LP increased its stake in Vulcan Materials Company by 166.0%, acquiring 125,929 shares for a total of 201,773 shares valued at approximately $47.07 million.
• Vulcan Materials reported a quarterly earnings miss with $2.45 EPS, falling short of analyst expectations and posting a revenue of $2.10 billion, which was below the predicted $2.23 billion.
• Analysts have mixed views on Vulcan Materials, with a consensus rating of "Buy" and average target price of $308.36, while recent upgrades include Citigroup raising its price target to $321.00.

Woodline Partners LP increased its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 166.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,773 shares of the construction company's stock after buying an additional 125,929 shares during the period. Woodline Partners LP owned 0.15% of Vulcan Materials worth $47,074,000 at the end of the most recent quarter.

Several other institutional 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. Manchester Capital Management LLC grew its holdings in shares of Vulcan Materials by 26.9% in the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after purchasing an additional 39 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Vulcan Materials in the first quarter valued at $45,000. Fourth Dimension Wealth LLC bought a new stake in Vulcan Materials in the fourth quarter worth $46,000. Finally, Rakuten Securities Inc. purchased a new stake in Vulcan Materials during the first quarter valued at $54,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Price Performance

VMC stock opened at $299.02 on Tuesday. The stock has a market cap of $39.51 billion, a PE ratio of 41.76, a P/E/G ratio of 2.41 and a beta of 0.86. Vulcan Materials Company has a 12 month low of $215.08 and a 12 month high of $299.29. The company has a 50-day moving average price of $279.57 and a 200 day moving average price of $260.92. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The firm had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $2.35 earnings per share. Equities research analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 14th. Vulcan Materials's dividend payout ratio (DPR) is currently 27.37%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VMC shares. Citigroup reiterated a "buy" rating and set a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Barclays increased their price target on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada dropped their price target on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $280.00 to $318.00 in a research note on Friday, May 16th. Finally, Morgan Stanley lowered their price objective on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $308.36.

Vulcan Materials Company 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.

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