Foster Victor Wealth Advisors LLC boosted its holdings in shares of Vulcan Materials (NYSE:VMC) by 8.6% during the 2nd quarter, Holdings Channel reports. The fund owned 7,612 shares of the construction company’s stock after buying an additional 600 shares during the period. Vulcan Materials comprises about 0.8% of Foster Victor Wealth Advisors LLC’s portfolio, making the stock its 25th largest position. Foster Victor Wealth Advisors LLC’s holdings in Vulcan Materials were worth $1,051,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Gradient Investments LLC purchased a new position in Vulcan Materials during the 2nd quarter worth approximately $93,000. Oregon Public Employees Retirement Fund raised its position in Vulcan Materials by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,757 shares of the construction company’s stock worth $1,889,000 after buying an additional 82 shares during the last quarter. Raymond James Trust N.A. purchased a new position in Vulcan Materials during the 2nd quarter worth approximately $201,000. Sheets Smith Wealth Management purchased a new position in Vulcan Materials during the 2nd quarter worth approximately $536,000. Finally, Xact Kapitalforvaltning AB raised its position in Vulcan Materials by 6.0% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 24,272 shares of the construction company’s stock worth $3,333,000 after buying an additional 1,370 shares during the last quarter. Institutional investors own 95.85% of the company’s stock.
In related news, VP Randy L. Pigg sold 1,754 shares of Vulcan Materials stock in a transaction on Monday, June 10th. The shares were sold at an average price of $134.96, for a total value of $236,719.84. Following the sale, the vice president now owns 3,034 shares of the company’s stock, valued at approximately $409,468.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael R. Mills sold 1,326 shares of Vulcan Materials stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $136.05, for a total transaction of $180,402.30. Following the completion of the sale, the insider now directly owns 51,713 shares in the company, valued at approximately $7,035,553.65. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.
Vulcan Materials stock traded up $3.54 during trading on Friday, reaching $138.04. The company had a trading volume of 11,434 shares, compared to its average volume of 930,516. The company has a 50-day moving average of $135.41. Vulcan Materials has a 1-year low of $82.52 and a 1-year high of $140.00. The company has a market capitalization of $18.23 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 1.62 and a beta of 0.93. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.64 and a quick ratio of 0.99.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Vulcan Materials had a net margin of 11.63% and a return on equity of 10.60%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company earned $1.23 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts expect that Vulcan Materials will post 4.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Wednesday, August 21st will be paid a $0.31 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $1.24 dividend on an annualized basis and a yield of 0.90%. Vulcan Materials’s dividend payout ratio is currently 30.62%.
A number of equities analysts have issued reports on VMC shares. DA Davidson cut their target price on shares of Cloudera to $9.00 and set a “buy” rating for the company in a report on Thursday, June 6th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 3,620 ($47.30) target price on shares of Bellway in a report on Wednesday, April 3rd. Stifel Nicolaus set a $27.00 target price on shares of Amarin and gave the company a “buy” rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. Finally, Barclays set a $330.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Vulcan Materials presently has a consensus rating of “Buy” and an average target price of $128.14.
Vulcan Materials Profile
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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