Icon Advisers Inc. Co. Has $1.69 Million Stake in Vulcan Materials Company (VMC)
Icon Advisers Inc. Co. raised its stake in shares of Vulcan Materials Company (NYSE:VMC) by 250.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,000 shares of the construction company’s stock after buying an additional 10,000 shares during the period. Icon Advisers Inc. Co.’s holdings in Vulcan Materials Company were worth $1,687,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. BP PLC raised its stake in shares of Vulcan Materials Company by 47.5% in the fourth quarter. BP PLC now owns 59,000 shares of the construction company’s stock valued at $7,384,000 after buying an additional 19,000 shares during the period. Howard Capital Management raised its position in Vulcan Materials Company by 2.9% in the first quarter. Howard Capital Management now owns 71,227 shares of the construction company’s stock worth $8,581,000 after buying an additional 2,001 shares during the last quarter. Kentucky Retirement Systems purchased a new position in Vulcan Materials Company during the fourth quarter worth $1,202,000. Principal Financial Group Inc. raised its position in Vulcan Materials Company by 25.7% in the third quarter. Principal Financial Group Inc. now owns 257,447 shares of the construction company’s stock worth $29,279,000 after buying an additional 52,600 shares during the last quarter. Finally, Princeton Capital Management Inc. raised its position in Vulcan Materials Company by 8.2% in the third quarter. Princeton Capital Management Inc. now owns 13,669 shares of the construction company’s stock worth $1,555,000 after buying an additional 1,035 shares during the last quarter. Institutional investors own 86.91% of the company’s stock.
Vulcan Materials Company (NYSE:VMC) traded down 2.31% during midday trading on Wednesday, reaching $129.21. 1,001,854 shares of the company were exchanged. The firm’s 50 day moving average price is $126.86 and its 200-day moving average price is $123.84. Vulcan Materials Company has a 52 week low of $105.71 and a 52 week high of $138.18. The stock has a market capitalization of $17.08 billion, a P/E ratio of 41.33 and a beta of 1.00.
Vulcan Materials Company (NYSE:VMC) last announced its earnings results on Wednesday, May 10th. The construction company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.12. Vulcan Materials Company had a net margin of 5.53% and a return on equity of 3.84%. The company had revenue of $787 million for the quarter, compared to analysts’ expectations of $743.79 million. During the same quarter in the previous year, the company posted $0.26 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that Vulcan Materials Company will post $4.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Wednesday, May 24th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, May 22nd. This represents a $1.00 annualized dividend and a dividend yield of 0.77%. Vulcan Materials Company’s dividend payout ratio is presently 32.15%.
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A number of research firms have weighed in on VMC. BidaskClub upgraded shares of Vulcan Materials Company from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research upgraded shares of Vulcan Materials Company from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. Citigroup Inc. began coverage on shares of Vulcan Materials Company in a research report on Wednesday, March 29th. They issued a “buy” rating for the company. Finally, Argus upped their target price on shares of Vulcan Materials Company from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $135.60.
In related news, VP Ejaz A. Khan sold 2,024 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $125.30, for a total value of $253,607.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total transaction of $40,392.00. Following the completion of the sale, the general counsel now owns 5,292 shares in the company, valued at $698,544. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.
Vulcan Materials Company Company Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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