Cornerstone Advisors LLC Buys Shares of 32,410 Vulcan Materials Company $VMC

Cornerstone Advisors LLC purchased a new stake in Vulcan Materials Company (NYSE:VMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 32,410 shares of the construction company’s stock, valued at approximately $9,561,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC purchased a new stake in shares of Vulcan Materials during the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its position in Vulcan Materials by 71.7% in the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock worth $28,000 after acquiring an additional 43 shares during the period. Birchwood Financial Partners Inc. purchased a new position in Vulcan Materials in the fourth quarter worth approximately $29,000. Godsey & Gibb Inc. purchased a new stake in Vulcan Materials in the fourth quarter valued at $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Vulcan Materials in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Down 1.2%

NYSE:VMC opened at $278.49 on Tuesday. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The stock’s fifty day moving average is $289.69 and its two-hundred day moving average is $288.26. The stock has a market capitalization of $36.09 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 2.03 and a beta of 1.06. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 earnings per share. Research analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, August 13th. Vulcan Materials’s dividend payout ratio (DPR) is 24.56%.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of Vulcan Materials stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the transaction, the senior vice president directly owned 8,716 shares of the company’s stock, valued at $2,547,599.64. The trade was a 20.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VMC. Berenberg Bank set a $283.00 price target on Vulcan Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Royal Bank Of Canada boosted their price objective on shares of Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of Vulcan Materials in a research note on Wednesday, July 15th. UBS Group lowered their target price on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company dropped their price target on shares of Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $327.93.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.