Pennsylvania Trust Co Invests $3,586,000 in Vulcan Materials Co. (VMC)
Pennsylvania Trust Co acquired a new stake in shares of Vulcan Materials Co. (NYSE:VMC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 31,532 shares of the company’s stock, valued at approximately $3,586,000.
Other institutional investors have also modified their holdings of the company. Financial Architects Inc raised its position in shares of Vulcan Materials by 1,268.9% in the second quarter. Financial Architects Inc now owns 1,013 shares of the company’s stock valued at $122,000 after buying an additional 939 shares in the last quarter. Tredje AP fonden raised its position in shares of Vulcan Materials by 173.9% in the second quarter. Tredje AP fonden now owns 1,260 shares of the company’s stock valued at $152,000 after buying an additional 800 shares in the last quarter. Carroll Financial Associates Inc. raised its position in shares of Vulcan Materials by 40.8% in the third quarter. Carroll Financial Associates Inc. now owns 1,416 shares of the company’s stock valued at $161,000 after buying an additional 410 shares in the last quarter. Thompson Davis & CO. Inc. raised its position in shares of Vulcan Materials by 3,155.6% in the second quarter. Thompson Davis & CO. Inc. now owns 1,465 shares of the company’s stock valued at $176,000 after buying an additional 1,420 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Vulcan Materials by 179.9% in the second quarter. Sunbelt Securities Inc. now owns 1,531 shares of the company’s stock valued at $184,000 after buying an additional 984 shares in the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
Vulcan Materials Co. (NYSE:VMC) traded up 1.24% during midday trading on Tuesday, reaching $126.13. The company had a trading volume of 1,509,822 shares. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 46.05 and a beta of 1.19. Vulcan Materials Co. has a 12-month low of $78.83 and a 12-month high of $138.18. The stock’s 50 day moving average is $119.10 and its 200 day moving average is $117.55.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by $0.18. The business earned $1.01 billion during the quarter, compared to the consensus estimate of $1.12 billion. Vulcan Materials had a return on equity of 8.83% and a net margin of 10.38%. Vulcan Materials’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. Equities research analysts expect that Vulcan Materials Co. will post $3.02 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 23rd will be given a $0.20 dividend. The ex-dividend date is Monday, November 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.63%. Vulcan Materials’s dividend payout ratio is currently 29.20%.
Several equities analysts recently issued reports on VMC shares. SunTrust Banks Inc. upgraded Vulcan Materials from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $129.00 in a research report on Wednesday, October 26th. Argus restated a “buy” rating and issued a $129.00 target price on shares of Vulcan Materials in a research note on Wednesday, August 3rd. Stephens cut Vulcan Materials from an “overweight” rating to an “equal weight” rating in a research note on Thursday, November 17th. Jefferies Group restated a “hold” rating on shares of Vulcan Materials in a research note on Wednesday, August 31st. Finally, DA Davidson restated a “hold” rating and issued a $120.00 target price on shares of Vulcan Materials in a research note on Sunday, October 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $130.70.
In related news, insider David J. Grayson sold 2,121 shares of Vulcan Materials stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $118.49, for a total transaction of $251,317.29. Following the sale, the insider now directly owns 16,648 shares in the company, valued at $1,972,621.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is owned by insiders.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
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