Gareth Morgan Investments Limited Partnership Has $6.77 Million Position in Vulcan Materials Company (VMC)
Gareth Morgan Investments Limited Partnership lifted its holdings in Vulcan Materials Company (NYSE:VMC) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,426 shares of the construction company’s stock after buying an additional 4,378 shares during the quarter. Gareth Morgan Investments Limited Partnership’s holdings in Vulcan Materials were worth $6,768,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of 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 valued at $296,000 after buying an additional 559 shares in the last quarter. Geneva Advisors LLC purchased a new stake in shares of Vulcan Materials in the second quarter valued at approximately $647,000. BB&T Corp boosted its stake in shares of Vulcan Materials by 5.3% in the second quarter. BB&T Corp now owns 4,042 shares of the construction company’s stock valued at $512,000 after buying an additional 202 shares in the last quarter. Pax World Management LLC purchased a new stake in shares of Vulcan Materials in the first quarter valued at approximately $2,410,000. Finally, Swiss National Bank boosted its stake in shares of Vulcan Materials by 26.5% in the first quarter. Swiss National Bank now owns 468,942 shares of the construction company’s stock valued at $56,498,000 after buying an additional 98,100 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.
A number of research firms recently weighed in on VMC. BidaskClub upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Argus lifted their price target on Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 9th. Zacks Investment Research upgraded Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, June 20th. Royal Bank Of Canada restated a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a research note on Monday, June 19th. Finally, Citigroup Inc. restated a “buy” rating on shares of Vulcan Materials in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $136.00.
Vulcan Materials Company (VMC) traded up 0.57% during mid-day trading on Wednesday, reaching $118.81. The company’s stock had a trading volume of 271,166 shares. The firm’s 50 day moving average price is $119.47 and its 200 day moving average price is $122.50. The firm has a market capitalization of $15.72 billion, a P/E ratio of 38.25 and a beta of 0.94. Vulcan Materials Company has a 52 week low of $105.71 and a 52 week high of $138.18.
Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.22 by $0.32. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Vulcan Materials Company will post $3.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Monday, August 21st. Vulcan Materials’s dividend payout ratio (DPR) is presently 32.36%.
In other news, insider Stanley G. Bass sold 4,413 shares of Vulcan Materials stock in a transaction 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 transaction, the insider now directly owns 21,939 shares in the company, valued at approximately $2,895,948. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David B. Pasley sold 1,250 shares of Vulcan Materials stock in a transaction on Friday, September 1st. The shares were sold at an average price of $121.51, for a total value of $151,887.50. Following the transaction, the insider now owns 2,857 shares in the company, valued at $347,154.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,969 shares of company stock worth $774,796. 0.89% of the stock is owned by 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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