Toronto Dominion Bank Has $5.67 Million Position in Vulcan Materials Company (VMC)
Toronto Dominion Bank boosted its holdings in Vulcan Materials Company (NYSE:VMC) by 143.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,772 shares of the construction company’s stock after acquiring an additional 147,386 shares during the quarter. Toronto Dominion Bank’s holdings in Vulcan Materials were worth $5,671,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Cetera Investment Advisers bought a new position in Vulcan Materials in the 2nd quarter valued at approximately $1,121,000. WINTON GROUP Ltd bought a new position in Vulcan Materials in the 2nd quarter valued at approximately $218,000. Covington Capital Management lifted its position in Vulcan Materials by 11.4% in the 2nd quarter. Covington Capital Management now owns 16,096 shares of the construction company’s stock valued at $2,039,000 after acquiring an additional 1,650 shares in the last quarter. Kingfisher Capital LLC lifted its position in Vulcan Materials by 3.2% in the 2nd quarter. Kingfisher Capital LLC now owns 13,950 shares of the construction company’s stock valued at $1,767,000 after acquiring an additional 430 shares in the last quarter. Finally, Linscomb & Williams Inc. lifted its position in Vulcan Materials by 3.1% in the 2nd quarter. Linscomb & Williams Inc. now owns 4,120 shares of the construction company’s stock valued at $522,000 after acquiring an additional 125 shares in the last quarter. 87.10% of the stock is currently owned by institutional investors and hedge funds.
Vulcan Materials Company (VMC) traded up 0.55% during trading on Friday, hitting $120.70. The stock had a trading volume of 61,875 shares. Vulcan Materials Company has a 12 month low of $108.95 and a 12 month high of $138.18. The firm has a 50 day moving average of $118.08 and a 200-day moving average of $122.37. The stock has a market cap of $15.97 billion, a price-to-earnings ratio of 38.86 and a beta of 0.87.
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 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts predict that Vulcan Materials Company will post $3.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.83%. Vulcan Materials’s payout ratio is currently 32.36%.
Several research firms recently issued reports on VMC. Zacks Investment Research cut Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Bank of America Corporation lowered their price objective on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a research report on Thursday. Citigroup Inc. reaffirmed a “buy” rating and issued a $140.00 price objective (down from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Jefferies Group LLC set a $114.00 price objective on Vulcan Materials and gave the company a “hold” rating in a research report on Tuesday, August 22nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $154.00 price objective on shares of Vulcan Materials in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $137.57.
In other news, 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 transaction of $151,887.50. Following the completion of the sale, the insider now directly owns 2,857 shares in the company, valued at $347,154.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael R. Mills sold 981 shares of Vulcan Materials stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total transaction of $115,316.55. Following the sale, the insider now owns 23,871 shares of the company’s stock, valued at $2,806,036.05. The disclosure for this sale can be found here. 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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