Weitz Investment Management Inc. Takes Position in Vulcan Materials Company $VMC

Weitz Investment Management Inc. purchased a new position in shares of Vulcan Materials Company (NYSE:VMC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 203,800 shares of the construction company’s stock, valued at approximately $60,123,000. Vulcan Materials accounts for 4.2% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 7th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VMC. Burkett Financial Services LLC purchased a new stake in Vulcan Materials in the 2nd quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new position in Vulcan Materials during the third quarter worth about $30,000. Birchwood Financial Partners Inc. purchased a new position in Vulcan Materials during the fourth quarter worth about $29,000. Meeder Asset Management Inc. increased its position in shares of Vulcan Materials by 71.7% during the first 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 last quarter. Finally, WPG Advisers LLC raised its stake in shares of Vulcan Materials by 56.4% in the 4th quarter. WPG Advisers LLC now owns 122 shares of the construction company’s stock valued at $35,000 after acquiring an additional 44 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vulcan Materials

In other news, SVP David P. Clement sold 2,000 shares of Vulcan Materials stock in a transaction dated 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 transaction, the senior vice president 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 filing with the SEC, which can be accessed through the SEC website. 0.65% of the stock is owned by corporate insiders.

Vulcan Materials Stock Performance

NYSE:VMC opened at $275.48 on Friday. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The company has a fifty day simple moving average of $289.19 and a two-hundred day simple moving average of $287.61. 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 company has a market cap of $35.70 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $2.42 earnings per share. As a group, equities analysts anticipate that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be issued 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 is 24.56%.

Analysts Set New Price Targets

Several equities analysts have recently commented on VMC shares. Weiss Ratings restated a “buy (b-)” rating on shares of Vulcan Materials in a report on Tuesday, July 7th. Oppenheimer assumed coverage on shares of Vulcan Materials in a report on Thursday, May 28th. They issued a “market perform” rating for the company. Royal Bank Of Canada upped their price target on Vulcan Materials from $293.00 to $300.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. UBS Group dropped their price objective on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Finally, Wall Street Zen lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $327.93.

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.