Korea Investment CORP Invests $36.73 Million in Vulcan Materials Company $VMC

Korea Investment CORP acquired a new stake in Vulcan Materials Company (NYSE:VMC) during the second quarter, Holdings Channel reports. The institutional investor acquired 124,512 shares of the construction company’s stock, valued at approximately $36,732,000.

A number of other institutional investors have also made changes to their positions in VMC. EP Wealth Advisors LLC acquired a new position in Vulcan Materials during the second quarter worth $254,000. Callan Family Office LLC acquired a new stake in Vulcan Materials in the 2nd quarter valued at $1,650,000. Keebeck Wealth Management acquired a new stake in Vulcan Materials in the 2nd quarter valued at $1,320,000. Keating Financial Advisory Services Inc. bought a new stake in Vulcan Materials during the 2nd quarter worth about $66,000. Finally, Allworth Financial LP bought a new stake in Vulcan Materials during the 2nd quarter worth about $306,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

NYSE VMC opened at $275.48 on Friday. The firm has a 50-day moving average of $289.19 and a 200-day moving average of $287.61. 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 stock has a market cap of $35.70 billion, a PE ratio of 32.52, a P/E/G ratio of 1.99 and a beta of 1.06. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. Vulcan Materials’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 EPS. On average, sell-side analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Dividend Announcement

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

Analyst Ratings Changes

VMC has been the subject of several analyst reports. Royal Bank Of Canada raised their price objective on Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Berenberg Bank set a $283.00 target price on Vulcan Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Wells Fargo & Company reduced their price target on Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Stifel Nicolaus set a $333.00 price target on Vulcan Materials in a research note on Thursday, April 30th. Finally, Citigroup decreased their price target on Vulcan Materials from $355.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.93.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the transaction, the senior vice president owned 8,716 shares in the company, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.