MidFirst Bank Buys Shares of 7,834 Vulcan Materials Company $VMC

MidFirst Bank bought a new stake in Vulcan Materials Company (NYSE:VMC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,834 shares of the construction company’s stock, valued at approximately $2,311,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VMC. Burkett Financial Services LLC acquired a new stake in shares of Vulcan Materials during the second quarter valued at about $25,000. Meeder Asset Management Inc. increased its position in Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after acquiring an additional 43 shares during the period. Birchwood Financial Partners Inc. bought a new position in shares of Vulcan Materials during the fourth quarter valued at $29,000. Godsey & Gibb Inc. bought a new position in shares of Vulcan Materials during the fourth quarter valued at $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Vulcan Materials during the third quarter worth $30,000. 90.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Vulcan Materials in a report on Tuesday, July 7th. Barclays upped their price target on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Stifel Nicolaus set a $333.00 price objective on Vulcan Materials in a research report on Thursday, April 30th. UBS Group cut their price objective on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Finally, Citigroup reduced their target price on Vulcan Materials from $355.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $327.93.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of Vulcan Materials stock in a transaction that occurred on Friday, August 7th. The stock was 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 directly owned 6,716 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Vulcan Materials Price Performance

VMC stock opened at $278.49 on Tuesday. 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 firm has a market cap of $36.09 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.03 and a beta of 1.06. The company’s fifty day simple moving average is $289.69 and its 200 day simple moving average is $288.26. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09.

Vulcan Materials (NYSE:VMC) last issued its quarterly 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. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the business posted $2.42 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. On average, analysts expect that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Dividend Announcement

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

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.