Canada Pension Plan Investment Board Invests $81.95 Million in Vulcan Materials Company $VMC

Canada Pension Plan Investment Board bought a new position in shares of Vulcan Materials Company (NYSE:VMC) in the 2nd quarter, Holdings Channel reports. The fund bought 277,780 shares of the construction company’s stock, valued at approximately $81,948,000.

Several other large investors have also recently bought and sold shares of VMC. Burkett Financial Services LLC acquired a new position in shares of Vulcan Materials in the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Vulcan Materials during the third quarter worth approximately $30,000. Birchwood Financial Partners Inc. bought a new stake in Vulcan Materials in the 4th quarter valued at $29,000. Meeder Asset Management Inc. increased its position in Vulcan Materials by 71.7% during the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock worth $28,000 after buying an additional 43 shares during the period. Finally, Clearstead Trust LLC acquired a new stake in shares of Vulcan Materials during the second quarter worth $37,000. 90.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president directly owned 6,716 shares of the company’s stock, valued at $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.65% of the stock is owned by company insiders.

Vulcan Materials Stock Performance

Shares of NYSE:VMC opened at $273.79 on Thursday. Vulcan Materials Company has a 1 year low of $252.35 and a 1 year high of $331.09. The stock has a market capitalization of $35.48 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. The company’s 50 day simple moving average is $287.90 and its 200 day simple moving average is $286.71.

Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.13. The firm 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 quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.42 earnings per share. As a group, research analysts predict that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 13th. Vulcan Materials’s dividend payout ratio is currently 24.56%.

Analyst Ratings Changes

A number of equities analysts recently commented on VMC shares. UBS Group lowered their price target on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. DA Davidson assumed coverage on shares of Vulcan Materials in a report on Tuesday. They set a “buy” rating and a $330.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Barclays raised their price objective on Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Citigroup cut their target price on Vulcan Materials from $355.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $328.64.

Vulcan Materials Company Profile

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.