18,554 Shares in Vulcan Materials Company $VMC Purchased by Harvey Capital Management Inc.

Harvey Capital Management Inc. bought a new stake in Vulcan Materials Company (NYSE:VMC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,554 shares of the construction company’s stock, valued at approximately $5,474,000. Vulcan Materials comprises about 1.1% of Harvey Capital Management Inc.’s holdings, making the stock its 27th biggest holding.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Vulcan Materials in the second quarter worth $2,868,444,000. Geode Capital Management LLC grew its position in Vulcan Materials by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company’s stock valued at $1,016,168,000 after purchasing an additional 32,012 shares in the last quarter. Bank of America Corp DE acquired a new stake in Vulcan Materials in the 2nd quarter valued at $688,580,000. Morgan Stanley grew its holdings in shares of Vulcan Materials by 7.9% in the 4th quarter. Morgan Stanley now owns 1,727,232 shares of the construction company’s stock valued at $492,642,000 after acquiring an additional 126,523 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Vulcan Materials during the second quarter worth about $451,119,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Up 0.1%

Shares of NYSE:VMC opened at $274.03 on Friday. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The business has a 50 day moving average of $287.31 and a 200-day moving average of $286.36. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The stock has a market cap of $35.51 billion, a PE ratio of 32.35, a P/E/G ratio of 1.97 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. The company had revenue of $2.16 billion for 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 firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.42 earnings per share. As a group, equities research analysts forecast that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VMC. Citigroup reduced their price target 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. Berenberg Bank set a $283.00 price objective on Vulcan Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. DA Davidson assumed coverage on Vulcan Materials in a report on Tuesday. They issued a “buy” rating and a $330.00 price objective for the company. Stifel Nicolaus set a $333.00 target price on shares of Vulcan Materials in a report on Thursday, April 30th. Finally, Wall Street Zen lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $328.64.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 2,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the sale, the senior vice president owned 6,716 shares of the company’s stock, valued at approximately $1,914,731.60. The trade was a 22.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.