Pennsylvania Trust Co Invests $3,586,000 in Vulcan Materials Co. (VMC)
Pennsylvania Trust Co acquired a new position in shares of Vulcan Materials Co. (NYSE:VMC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 31,532 shares of the company’s stock, valued at approximately $3,586,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in VMC. Envestnet Asset Management Inc. boosted its position in Vulcan Materials by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 15,002 shares of the company’s stock valued at $1,584,000 after buying an additional 2,312 shares in the last quarter. Royal Bank of Canada boosted its position in Vulcan Materials by 63.7% in the first quarter. Royal Bank of Canada now owns 234,168 shares of the company’s stock valued at $24,722,000 after buying an additional 91,137 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in Vulcan Materials during the first quarter valued at $390,000. BNP Paribas Arbitrage SA boosted its position in Vulcan Materials by 40.2% in the second quarter. BNP Paribas Arbitrage SA now owns 36,662 shares of the company’s stock valued at $4,413,000 after buying an additional 10,518 shares in the last quarter. Finally, DNB Asset Management AS boosted its position in Vulcan Materials by 2.7% in the second quarter. DNB Asset Management AS now owns 11,317 shares of the company’s stock valued at $1,362,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
Vulcan Materials Co. (NYSE:VMC) traded up 1.24% on Tuesday, hitting $126.13. The stock had a trading volume of 1,509,822 shares. Vulcan Materials Co. has a 52-week low of $78.83 and a 52-week high of $138.18. The company has a 50 day moving average price of $119.10 and a 200-day moving average price of $117.55. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 46.05 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by $0.18. Vulcan Materials had a net margin of 10.38% and a return on equity of 8.83%. The business earned $1.01 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted $0.95 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts predict that Vulcan Materials Co. will post $3.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 23rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.63%. The ex-dividend date is Monday, November 21st. Vulcan Materials’s payout ratio is currently 29.20%.
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VMC has been the subject of several recent analyst reports. Argus restated a “buy” rating and issued a $129.00 price target on shares of Vulcan Materials in a research note on Wednesday, August 3rd. Bank of America Corp. cut Vulcan Materials from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 16th. They noted that the move was a valuation call. SunTrust Banks Inc. upgraded Vulcan Materials from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $129.00 in a research report on Wednesday, October 26th. Stephens cut Vulcan Materials from an “overweight” rating to an “equal weight” rating in a research report on Thursday, November 17th. Finally, Jefferies Group reiterated a “hold” rating on shares of Vulcan Materials in a research report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $130.70.
In related news, insider David J. Grayson sold 2,121 shares of Vulcan Materials stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $118.49, for a total value of $251,317.29. Following the completion of the sale, the insider now owns 16,648 shares of the company’s stock, valued at approximately $1,972,621.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.92% of the stock is currently owned by corporate insiders.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
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