Bowen Hanes & Co. Inc. Raises Stake in Vulcan Materials Company (NYSE:VMC)

Bowen Hanes & Co. Inc. boosted its stake in Vulcan Materials Company (NYSE:VMC) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 141,850 shares of the construction company’s stock after buying an additional 1,050 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Vulcan Materials were worth $17,970,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. DnB Asset Management AS boosted its stake in shares of Vulcan Materials by 18.2% in the first quarter. DnB Asset Management AS now owns 14,317 shares of the construction company’s stock valued at $1,725,000 after buying an additional 2,200 shares during the period. Harvey Capital Management Inc. boosted its stake in shares of Vulcan Materials by 228.4% in the first quarter. Harvey Capital Management Inc. now owns 30,865 shares of the construction company’s stock valued at $3,718,000 after buying an additional 21,465 shares during the last quarter. Howard Capital Management boosted its stake in shares of Vulcan Materials by 2.9% in the first quarter. Howard Capital Management now owns 71,227 shares of the construction company’s stock valued at $8,581,000 after buying an additional 2,001 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Vulcan Materials during the first quarter valued at $328,000. Finally, Bank of Montreal Can boosted its stake in shares of Vulcan Materials by 2.7% in the first quarter. Bank of Montreal Can now owns 36,622 shares of the construction company’s stock valued at $4,412,000 after buying an additional 954 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Vulcan Materials Company (NYSE VMC) opened at 121.84 on Friday. The company has a market capitalization of $16.13 billion, a PE ratio of 39.23 and a beta of 0.93. The firm’s 50-day moving average price is $127.26 and its 200 day moving average price is $124.16. Vulcan Materials Company has a 52 week low of $105.71 and a 52 week high of $138.18.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.22 by $0.32. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. Equities analysts predict that Vulcan Materials Company will post $3.67 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.82%. Vulcan Materials’s payout ratio is 32.36%.

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Several equities research analysts have weighed in on the company. Stephens raised Vulcan Materials from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $140.00 to $145.00 in a research note on Thursday. BidaskClub cut Vulcan Materials from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Zacks Investment Research cut Vulcan Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Royal Bank Of Canada reissued a “buy” rating and set a $154.00 price objective on shares of Vulcan Materials in a research note on Monday, June 19th. Finally, Argus boosted their price objective on Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $139.67.

In other news, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total transaction of $40,392.00. Following the completion of the sale, the general counsel now owns 5,292 shares in the company, valued at approximately $698,544. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stanley G. Bass sold 4,413 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total transaction of $582,516.00. Following the sale, the insider now owns 21,939 shares of the company’s stock, valued at approximately $2,895,948. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,743 shares of company stock valued at $876,515. 0.89% of the stock is owned by insiders.

Vulcan Materials Company Profile

Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).

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