Proficio Capital Partners LLC Invests $668,000 in Vulcan Materials Company $VMC

Proficio Capital Partners LLC acquired a new stake in shares of Vulcan Materials Company (NYSE:VMC) during the second quarter, Holdings Channel reports. The firm acquired 2,266 shares of the construction company’s stock, valued at approximately $668,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Vulcan Materials in the 2nd quarter worth $2,868,444,000. Bank of America Corp DE acquired a new stake in Vulcan Materials in the 2nd quarter valued at about $688,580,000. The Manufacturers Life Insurance Company bought a new position in shares of Vulcan Materials during the 2nd quarter valued at about $451,119,000. Norges Bank acquired a new position in shares of Vulcan Materials in the 4th quarter worth approximately $383,613,000. Finally, Stockbridge Partners LLC bought a new stake in shares of Vulcan Materials in the 2nd quarter worth approximately $314,470,000. Institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on VMC. Weiss Ratings reissued a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Stephens upped their price target on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Berenberg Bank set a $283.00 price objective on Vulcan Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. DA Davidson started coverage on Vulcan Materials in a research note on Tuesday. They set a “buy” rating and a $330.00 price objective for the company. Finally, Oppenheimer assumed coverage on Vulcan Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus price target of $328.64.

Vulcan Materials Trading Down 0.1%

Vulcan Materials stock opened at $273.79 on Thursday. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. The firm has a market capitalization of $35.48 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 1.97 and a beta of 1.06. The company has a 50 day moving average price of $287.90 and a 200 day moving average price of $286.71.

Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates 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 for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 earnings per share. Research analysts forecast that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Announces Dividend

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 paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s dividend payout ratio is currently 24.56%.

Insider Buying and Selling

In other Vulcan Materials 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 transaction of $570,200.00. Following the completion of the sale, the senior vice president directly owned 6,716 shares in the company, valued at approximately $1,914,731.60. This trade represents a 22.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.65% of the company’s stock.

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.