American Century Companies Inc. Raises Stake in Vulcan Materials Company (VMC)
American Century Companies Inc. increased its position in Vulcan Materials Company (NYSE:VMC) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 976,210 shares of the construction company’s stock after buying an additional 2,886 shares during the period. American Century Companies Inc. owned approximately 0.74% of Vulcan Materials worth $123,666,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Vulcan Materials by 2,909.7% in the first quarter. BlackRock Inc. now owns 8,067,195 shares of the construction company’s stock worth $971,936,000 after buying an additional 7,799,158 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in Vulcan Materials during the first quarter worth approximately $138,381,000. Marshall Wace North America L.P. bought a new position in Vulcan Materials during the first quarter worth approximately $138,381,000. Point72 Asset Management L.P. boosted its position in Vulcan Materials by 226.1% in the first quarter. Point72 Asset Management L.P. now owns 950,200 shares of the construction company’s stock worth $114,480,000 after buying an additional 658,800 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Vulcan Materials by 10.6% in the first quarter. JPMorgan Chase & Co. now owns 4,647,016 shares of the construction company’s stock worth $559,872,000 after buying an additional 443,701 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.
Vulcan Materials Company (VMC) opened at 113.13 on Friday. The stock has a 50 day moving average price of $120.74 and a 200 day moving average price of $122.57. The firm has a market cap of $14.96 billion, a P/E ratio of 36.42 and a beta of 0.93. Vulcan Materials Company has a 1-year low of $105.71 and a 1-year high of $138.18.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.22 by $0.32. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. On average, analysts anticipate that Vulcan Materials Company will post $3.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $0.25 per share. 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 presently 32.36%.
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VMC has been the subject of a number of research reports. 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. Citigroup Inc. reissued a “buy” rating on shares of Vulcan Materials in a report on Thursday, May 11th. BidaskClub cut shares of Vulcan Materials from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Argus increased 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. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $154.00 target price on shares of Vulcan Materials in a report on Monday, June 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $136.00.
In other Vulcan Materials news, insider Stanley G. Bass sold 4,413 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total transaction of $582,516.00. Following the completion of the transaction, the insider now owns 21,939 shares in the company, valued at approximately $2,895,948. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total value of $40,392.00. Following the transaction, the general counsel now owns 5,292 shares of the company’s stock, valued at approximately $698,544. The disclosure for this sale can be found here. Insiders have sold a total of 6,743 shares of company stock valued at $876,515 in the last 90 days. 0.89% of the stock is currently owned by company insiders.
About Vulcan Materials
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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