Victory Capital Management Inc. Has $61.63 Million Stake in Vulcan Materials Company (VMC)
Victory Capital Management Inc. reduced its position in Vulcan Materials Company (NYSE:VMC) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 486,510 shares of the construction company’s stock after selling 32,117 shares during the period. Victory Capital Management Inc. owned approximately 0.37% of Vulcan Materials worth $61,632,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pax World Management LLC increased its position in shares of Vulcan Materials by 200.0% in the second quarter. Pax World Management LLC now owns 60,000 shares of the construction company’s stock worth $7,601,000 after buying an additional 40,000 shares during the period. BB&T Securities LLC bought a new position in Vulcan Materials during the second quarter valued at $1,626,000. Security National Trust Co. increased its position in Vulcan Materials by 6.7% in the second quarter. Security National Trust Co. now owns 8,145 shares of the construction company’s stock valued at $1,032,000 after buying an additional 510 shares during the period. KBC Group NV increased its position in Vulcan Materials by 7.1% in the second quarter. KBC Group NV now owns 16,311 shares of the construction company’s stock valued at $2,066,000 after buying an additional 1,080 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Vulcan Materials by 46.6% in the second quarter. BNP Paribas Arbitrage SA now owns 176,142 shares of the construction company’s stock valued at $22,314,000 after buying an additional 55,956 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.
Shares of Vulcan Materials Company (NYSE VMC) opened at 113.13 on Monday. The firm has a 50-day moving average of $120.74 and a 200-day moving average of $122.57. Vulcan Materials Company has a 12-month low of $105.71 and a 12-month high of $138.18. 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 (NYSE:VMC) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by $0.32. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $0.90 earnings per share. Vulcan Materials’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that Vulcan Materials Company will post $3.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, August 21st. Vulcan Materials’s dividend payout ratio is presently 32.36%.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Tuesday, June 20th. BidaskClub downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Jefferies Group LLC set a $114.00 price target on shares of Vulcan Materials and gave the stock a “hold” rating in a research report on Tuesday, August 22nd. Stephens upgraded shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $140.00 to $145.00 in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $154.00 price target on shares of Vulcan Materials in a research report on Monday, June 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $136.00.
In other news, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the 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 completion of the sale, the general counsel now directly owns 5,292 shares of the company’s stock, valued at $698,544. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stanley G. Bass sold 4,413 shares of the 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 sale, the insider now directly owns 21,939 shares of the company’s stock, valued at $2,895,948. The disclosure for this sale can be found here. Insiders have sold 6,743 shares of company stock valued at $876,515 over the last ninety days. 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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