1,800 Shares in Vulcan Materials (VMC) Acquired by North Star Investment Management Corp.
North Star Investment Management Corp. acquired a new position in Vulcan Materials (NYSE:VMC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,800 shares of the construction company’s stock, valued at approximately $232,000.
A number of other hedge funds have also bought and sold shares of VMC. Paloma Partners Management Co purchased a new position in Vulcan Materials in the fourth quarter worth $359,000. Cornerstone Capital Management Holdings LLC. boosted its position in Vulcan Materials by 10.4% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 24,870 shares of the construction company’s stock worth $3,192,000 after purchasing an additional 2,340 shares during the last quarter. LPL Financial LLC boosted its position in Vulcan Materials by 5.7% in the fourth quarter. LPL Financial LLC now owns 38,088 shares of the construction company’s stock worth $4,889,000 after purchasing an additional 2,061 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in Vulcan Materials in the fourth quarter worth $5,254,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Vulcan Materials by 3.7% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 55,205 shares of the construction company’s stock worth $7,087,000 after purchasing an additional 1,979 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of VMC opened at $123.88 on Monday. The firm has a market capitalization of $16.38 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 1.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.05 and a current ratio of 1.73. Vulcan Materials has a 1 year low of $108.17 and a 1 year high of $141.20.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Wednesday, August 22nd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 21st. This represents a $1.12 annualized dividend and a dividend yield of 0.90%. Vulcan Materials’s payout ratio is presently 36.84%.
In other Vulcan Materials news, VP John R. Mcpherson sold 21,446 shares of the business’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $125.88, for a total value of $2,699,622.48. Following the sale, the vice president now directly owns 102,610 shares in the company, valued at $12,916,546.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David P. Clement sold 1,828 shares of the business’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $124.00, for a total value of $226,672.00. Following the sale, the insider now owns 5,340 shares in the company, valued at $662,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,001 shares of company stock worth $6,278,803. Corporate insiders own 0.89% of the company’s stock.
VMC has been the topic of several research analyst reports. Bank of America raised Vulcan Materials from a “neutral” rating to a “buy” rating and set a $134.00 price objective on the stock in a research report on Wednesday, May 2nd. Stephens set a $137.00 price objective on Vulcan Materials and gave the stock a “buy” rating in a research report on Friday, April 13th. Jefferies Financial Group restated a “hold” rating and issued a $129.00 target price on shares of Vulcan Materials in a research note on Monday, April 23rd. Zacks Investment Research upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. Finally, ValuEngine lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Vulcan Materials presently has an average rating of “Hold” and an average target price of $141.13.
Vulcan Materials Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.
Further Reading: Understanding Price to Earnings Ratio (PE)
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