Commerce Bank Has $230,000 Position in Vulcan Materials Company (VMC)
Commerce Bank lessened its position in shares of Vulcan Materials Company (NYSE:VMC) by 34.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,817 shares of the construction company’s stock after selling 964 shares during the period. Commerce Bank’s holdings in Vulcan Materials were worth $230,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in VMC. BlackRock Inc. raised its stake in Vulcan Materials by 2,909.7% during 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 last quarter. MARSHALL WACE ASIA Ltd bought a new position in Vulcan Materials during the first quarter worth $138,381,000. Marshall Wace North America L.P. bought a new position in Vulcan Materials during the first quarter worth $138,381,000. Point72 Asset Management L.P. raised its stake in Vulcan Materials by 226.1% during 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 last quarter. Finally, JPMorgan Chase & Co. raised its stake in Vulcan Materials by 10.6% during 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 last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.
In other Vulcan Materials news, insider David B. Pasley sold 1,250 shares of the company’s 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 completion of the transaction, the insider now directly owns 2,857 shares in the company, valued at approximately $347,154.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is currently owned by corporate insiders.
A number of brokerages recently weighed in on VMC. Zacks Investment Research downgraded shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Royal Bank Of Canada reissued a “buy” rating and set a $154.00 target price on shares of Vulcan Materials in a research note on Monday, June 19th. Jefferies Group LLC set a $114.00 target price on shares of Vulcan Materials and gave the stock a “hold” rating in a research note on Tuesday, August 22nd. BidaskClub downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Stephens raised shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $140.00 to $145.00 in a research note on Thursday, August 3rd. Two equities research 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 stock has an average rating of “Hold” and an average target price of $136.00.
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Shares of Vulcan Materials Company (NYSE VMC) opened at 118.00 on Wednesday. Vulcan Materials Company has a 12-month low of $105.71 and a 12-month high of $138.18. The firm has a 50-day moving average of $118.82 and a 200-day moving average of $122.47. The firm has a market capitalization of $15.61 billion, a PE ratio of 37.99 and a beta of 0.94.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.32). Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Vulcan Materials Company will post $3.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd were issued a $0.25 dividend. The ex-dividend date was Monday, August 21st. This represents a $1.00 annualized dividend and a yield of 0.85%. Vulcan Materials’s dividend payout ratio (DPR) is presently 32.36%.
Vulcan Materials 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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