Vulcan Materials (VMC) Shares Bought by Patten Group Inc.
Patten Group Inc. grew its holdings in shares of Vulcan Materials (NYSE:VMC) by 26.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,905 shares of the construction company’s stock after buying an additional 3,300 shares during the period. Patten Group Inc.’s holdings in Vulcan Materials were worth $1,496,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Sun Life Financial INC boosted its position in shares of Vulcan Materials by 10,666.7% during the second quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock valued at $123,000 after purchasing an additional 960 shares in the last quarter. Korea Investment CORP boosted its position in shares of Vulcan Materials by 140.5% during the second quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock valued at $156,000 after purchasing an additional 718 shares in the last quarter. Schroder Investment Management Group bought a new stake in shares of Vulcan Materials during the second quarter valued at approximately $187,000. Wetherby Asset Management Inc. bought a new stake in shares of Vulcan Materials during the second quarter valued at approximately $203,000. Finally, Jaffetilchin Investment Partners LLC bought a new stake in shares of Vulcan Materials during the second quarter valued at approximately $204,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on VMC shares. Jefferies Group set a $114.00 price target on Vulcan Materials and gave the company a “hold” rating in a research report on Tuesday, August 22nd. Citigroup reissued 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. Royal Bank Of Canada reissued a “buy” rating and issued a $154.00 target price on shares of Vulcan Materials in a report on Tuesday, October 10th. Finally, Bank of America dropped their target price on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Vulcan Materials has a consensus rating of “Hold” and an average target price of $140.00.
Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, November 1st. The construction company reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.36). Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm posted $1.01 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. equities analysts expect that Vulcan Materials will post 3.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Tuesday, November 21st. Vulcan Materials’s payout ratio is currently 34.13%.
In other news, insider Michael R. Mills sold 981 shares of the company’s 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 transaction, the insider now directly owns 23,871 shares of the company’s stock, valued at $2,806,036.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.89% of the company’s stock.
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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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