Teacher Retirement System of Texas Increases Stake in Vulcan Materials Company (VMC)
Teacher Retirement System of Texas grew its position in shares of Vulcan Materials Company (NYSE:VMC) by 50.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,648 shares of the construction company’s stock after buying an additional 41,837 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.09% of Vulcan Materials worth $14,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in Vulcan Materials by 4,985.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,209,593 shares of the construction company’s stock worth $533,271,000 after purchasing an additional 4,126,822 shares during the last quarter. Third Point LLC acquired a new stake in Vulcan Materials in the 2nd quarter worth approximately $202,688,000. Cramer Rosenthal Mcglynn LLC acquired a new stake in Vulcan Materials in the 2nd quarter worth approximately $58,623,000. CI Investments Inc. acquired a new stake in Vulcan Materials in the 3rd quarter worth approximately $55,271,000. Finally, Principal Financial Group Inc. lifted its holdings in Vulcan Materials by 71.2% in the 3rd quarter. Principal Financial Group Inc. now owns 949,062 shares of the construction company’s stock worth $113,508,000 after purchasing an additional 394,854 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.
Vulcan Materials Company (NYSE VMC) traded down $2.36 on Thursday, hitting $121.56. The stock had a trading volume of 1,006,000 shares, compared to its average volume of 1,269,687. The company has a market capitalization of $16,392.70, a PE ratio of 41.72, a PEG ratio of 2.42 and a beta of 0.86. The company has a current ratio of 4.22, a quick ratio of 3.34 and a debt-to-equity ratio of 0.60. Vulcan Materials Company has a 1-year low of $108.95 and a 1-year high of $136.82.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, November 1st. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.36). The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. Vulcan Materials had a net margin of 10.20% and a return on equity of 8.71%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. analysts anticipate that Vulcan Materials Company will post 3.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, November 21st. Vulcan Materials’s dividend payout ratio is presently 34.97%.
VMC has been the subject of several analyst reports. Zacks Investment Research lowered Vulcan Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Jefferies Group LLC boosted their target price on Vulcan Materials from $122.00 to $128.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Citigroup Inc. restated a “buy” rating and issued a $140.00 target price (down from $145.00) on shares of Vulcan Materials in a report on Monday, October 9th. BidaskClub lowered Vulcan Materials from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Bank of America Corporation dropped their price target on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $140.00.
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 stock was sold at an average price of $121.51, for a total value of $151,887.50. Following the sale, the insider now directly owns 2,857 shares in the company, valued at $347,154.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael R. Mills sold 981 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $117.55, for a total value of $115,316.55. Following the completion of the sale, the insider now owns 23,871 shares in the company, 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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