State Board of Administration of Florida Retirement System decreased its position in shares of Vulcan Materials (NYSE:VMC) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 192,054 shares of the construction company’s stock after selling 2,818 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.15% of Vulcan Materials worth $21,356,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Vulcan Materials by 35.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,016,741 shares of the construction company’s stock worth $230,251,000 after acquiring an additional 526,595 shares during the period. DnB Asset Management AS purchased a new position in shares of Vulcan Materials during the 2nd quarter worth $2,106,000. IFM Investors Pty Ltd raised its holdings in shares of Vulcan Materials by 41.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 6,241 shares of the construction company’s stock worth $805,000 after acquiring an additional 1,827 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Vulcan Materials during the 2nd quarter worth $328,000. Finally, Gofen & Glossberg LLC IL purchased a new position in shares of Vulcan Materials during the 2nd quarter worth $360,000. 97.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:VMC opened at $107.98 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.70 and a quick ratio of 1.11. The stock has a market cap of $13.75 billion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Vulcan Materials has a 12-month low of $82.52 and a 12-month high of $141.20.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Tuesday, October 30th. The construction company reported $1.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.40. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. Vulcan Materials had a return on equity of 10.20% and a net margin of 16.84%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company earned $1.04 EPS. On average, sell-side analysts forecast that Vulcan Materials will post 3.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Wednesday, November 21st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Tuesday, November 20th. Vulcan Materials’s payout ratio is 36.84%.
Several research analysts have recently commented on VMC shares. Zacks Investment Research upgraded Vulcan Materials from a “sell” rating to a “buy” rating and set a $138.00 price target on the stock in a report on Tuesday, July 24th. Jefferies Financial Group upgraded Vulcan Materials from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a report on Wednesday, August 1st. Argus cut their price objective on Vulcan Materials to $122.00 and set a “buy” rating for the company in a research report on Monday, August 20th. Stephens set a $125.00 price objective on Vulcan Materials and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Finally, Barclays reissued a “buy” rating and set a $132.00 price objective on shares of Vulcan Materials in a research report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $121.45.
In other Vulcan Materials news, Chairman J Thomas Hill acquired 1,955 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was purchased at an average cost of $101.66 per share, with a total value of $198,745.30. Following the transaction, the chairman now owns 57,348 shares of the company’s stock, valued at $5,829,997.68. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.89% of the stock is currently owned by company insiders.
About Vulcan Materials
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.
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