Oregon Public Employees Retirement Fund decreased its stake in shares of Vulcan Materials Company (NYSE:VMC) by 57.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,805 shares of the construction company’s stock after selling 18,915 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Vulcan Materials were worth $1,749,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its stake in Vulcan Materials by 1.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 307,293 shares of the construction company’s stock valued at $38,457,000 after buying an additional 3,598 shares during the period. Teachers Advisors LLC boosted its stake 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 during the period. Kentucky Retirement Systems bought a new stake in Vulcan Materials during the fourth quarter valued at approximately $1,202,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Vulcan Materials during the fourth quarter worth about $536,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Vulcan Materials during the fourth quarter worth about $3,129,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of Vulcan Materials Company (VMC) opened at 116.09 on Thursday. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 37.38 and a beta of 0.93. Vulcan Materials Company has a 12-month low of $105.71 and a 12-month high of $138.18. The firm has a 50-day moving average of $123.41 and a 200 day moving average of $123.27.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by $0.32. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Vulcan Materials Company will post $3.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, August 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.86%. Vulcan Materials’s dividend payout ratio (DPR) is presently 32.36%.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, June 20th. BidaskClub cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Stephens raised shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $145.00 in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $154.00 price objective on shares of Vulcan Materials in a research note on Monday, June 19th. Finally, Argus raised their price objective 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $139.67.
In other Vulcan Materials news, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the stock in a transaction dated 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 transaction, the general counsel now owns 5,292 shares in the company, valued at $698,544. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stanley G. Bass sold 4,413 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total transaction of $582,516.00. Following the transaction, 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. Insiders have sold 6,743 shares of company stock valued at $876,515 in the last 90 days. 0.89% of the stock is currently owned by corporate 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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