Traynor Capital Management Inc. raised its stake in shares of Vulcan Materials Company (NYSE:VMC) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 2,317 shares of the construction company’s stock after buying an additional 17 shares during the period. Traynor Capital Management Inc.’s holdings in Vulcan Materials were worth $287,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Teachers Advisors LLC boosted its position in Vulcan Materials by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 148,379 shares of the construction company’s stock valued at $18,570,000 after buying an additional 7,178 shares in the last quarter. CENTRAL TRUST Co boosted its position in Vulcan Materials by 6.6% in the first quarter. CENTRAL TRUST Co now owns 2,568 shares of the construction company’s stock valued at $309,000 after buying an additional 160 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Vulcan Materials by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 41,338 shares of the construction company’s stock valued at $4,980,000 after buying an additional 500 shares in the last quarter. National Pension Service boosted its position in Vulcan Materials by 8.4% in the first quarter. National Pension Service now owns 115,921 shares of the construction company’s stock valued at $13,643,000 after buying an additional 9,003 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.
Shares of Vulcan Materials Company (NYSE VMC) opened at 114.20 on Friday. The company has a 50-day moving average of $124.82 and a 200 day moving average of $123.74. Vulcan Materials Company has a one year low of $105.71 and a one year high of $138.18. The stock has a market cap of $15.11 billion, a price-to-earnings ratio of 36.77 and a beta of 0.93.
Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by $0.32. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business posted $0.90 EPS. Vulcan Materials’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that Vulcan Materials Company will post $3.46 earnings per share for the current fiscal year.
The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, August 21st. Vulcan Materials’s dividend payout ratio (DPR) is currently 32.36%.
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Several equities analysts recently issued reports on VMC shares. Zacks Investment Research cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. Citigroup Inc. reiterated a “buy” rating on shares of Vulcan Materials in a research note on Thursday, May 11th. Argus boosted their target price on shares of Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 9th. BidaskClub upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $154.00 target price on shares of Vulcan Materials in a research note on Monday, June 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $139.67.
In other Vulcan Materials news, insider Stanley G. Bass sold 4,413 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total value of $582,516.00. Following the completion of the sale, the insider now owns 21,939 shares of the company’s stock, valued at $2,895,948. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total value of $40,392.00. Following the completion of the sale, the general counsel now directly owns 5,292 shares of the company’s stock, valued at approximately $698,544. The disclosure for this sale can be found here. In the last three months, insiders sold 6,743 shares of company stock valued at $876,515. 0.89% of the stock is owned by corporate insiders.
About Vulcan Materials
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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