Numerai GP LLC Boosts Stake in Vulcan Materials Company $VMC

Numerai GP LLC increased its position in shares of Vulcan Materials Company (NYSE:VMC) by 30.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,383 shares of the construction company’s stock after buying an additional 3,119 shares during the quarter. Numerai GP LLC’s holdings in Vulcan Materials were worth $4,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Lone Pine Capital LLC acquired a new stake in shares of Vulcan Materials in the third quarter valued at approximately $425,938,000. Norges Bank acquired a new position in shares of Vulcan Materials in the 2nd quarter valued at $308,908,000. JPMorgan Chase & Co. increased its holdings in shares of Vulcan Materials by 12.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,824,987 shares of the construction company’s stock valued at $2,040,914,000 after acquiring an additional 857,210 shares during the period. Franklin Resources Inc. raised its position in Vulcan Materials by 598.5% in the 2nd quarter. Franklin Resources Inc. now owns 719,924 shares of the construction company’s stock valued at $187,771,000 after purchasing an additional 616,850 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its position in Vulcan Materials by 48.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,511,427 shares of the construction company’s stock valued at $464,945,000 after purchasing an additional 491,957 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VMC. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. B. Riley Financial began coverage on shares of Vulcan Materials in a research note on Thursday, January 15th. They set a “buy” rating and a $345.00 target price for the company. Morgan Stanley raised their price target on Vulcan Materials from $321.00 to $322.00 and gave the stock an “equal weight” rating in a report on Monday, March 9th. Zacks Research cut Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Finally, Wells Fargo & Company reduced their price objective on Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $326.29.

Insider Buying and Selling at Vulcan Materials

In related news, Director Melissa H. Anderson sold 1,137 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is currently owned by company insiders.

Vulcan Materials Stock Up 0.2%

VMC stock opened at $265.84 on Tuesday. The stock has a market capitalization of $34.71 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 1.85 and a beta of 1.05. The company has a fifty day moving average of $301.70 and a 200-day moving average of $296.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. Vulcan Materials Company has a one year low of $218.87 and a one year high of $331.09.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.41). The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.17 earnings per share. As a group, analysts expect that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. Vulcan Materials’s payout ratio is 25.62%.

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.