BB&T Securities LLC Invests $1.63 Million in Vulcan Materials Company (VMC)
BB&T Securities LLC acquired a new position in Vulcan Materials Company (NYSE:VMC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,838 shares of the construction company’s stock, valued at approximately $1,626,000.
A number of other institutional investors also recently bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Vulcan Materials by 29.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,459 shares of the construction company’s stock worth $296,000 after buying an additional 559 shares in the last quarter. BB&T Corp raised its stake in Vulcan Materials by 5.3% in the second quarter. BB&T Corp now owns 4,042 shares of the construction company’s stock worth $512,000 after buying an additional 202 shares during the last quarter. Leavell Investment Management Inc. raised its stake in Vulcan Materials by 1.0% in the first quarter. Leavell Investment Management Inc. now owns 76,841 shares of the construction company’s stock worth $9,258,000 after buying an additional 750 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Vulcan Materials by 94.9% in the first quarter. Canada Pension Plan Investment Board now owns 375,977 shares of the construction company’s stock worth $45,298,000 after buying an additional 183,100 shares during the last quarter. Finally, Pax World Management LLC acquired a new stake in Vulcan Materials during the first quarter worth about $2,410,000. Institutional investors own 84.88% of the company’s stock.
Shares of Vulcan Materials Company (VMC) opened at 113.13 on Friday. Vulcan Materials Company has a one year low of $105.71 and a one year high of $138.18. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 36.42 and a beta of 0.93. The company has a 50 day moving average of $120.74 and a 200-day moving average of $122.57.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by $0.32. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. On average, analysts anticipate that Vulcan Materials Company will post $3.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, August 21st. Vulcan Materials’s dividend payout ratio is currently 32.36%.
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A number of equities research analysts have recently issued reports on VMC shares. Argus upped their target price on shares of Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Citigroup Inc. reaffirmed a “buy” rating on shares of Vulcan Materials in a report on Thursday, May 11th. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Tuesday, June 20th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $154.00 target price on shares of Vulcan Materials in a report on Monday, June 19th. Finally, Jefferies Group LLC set a $114.00 target price on shares of Vulcan Materials and gave the stock a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Vulcan Materials has an average rating of “Hold” and an average target price of $136.00.
In related news, VP Ejaz A. Khan sold 2,024 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $125.30, for a total value of $253,607.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total value of $40,392.00. Following the completion of the sale, the general counsel now directly owns 5,292 shares of the company’s stock, valued at $698,544. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,743 shares of company stock valued at $876,515. Company insiders own 0.89% of the company’s stock.
Vulcan Materials 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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