Retirement Systems of Alabama increased its position in shares of Vulcan Materials Co. (NYSE:VMC) by 0.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,653 shares of the company’s stock after buying an additional 54 shares during the period. Retirement Systems of Alabama’s holdings in Vulcan Materials were worth $15,003,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Conning Inc. increased its position in Vulcan Materials by 0.3% in the second quarter. Conning Inc. now owns 3,189 shares of the company’s stock worth $384,000 after buying an additional 10 shares during the period. Oakworth Capital Inc. increased its position in Vulcan Materials by 2.8% in the second quarter. Oakworth Capital Inc. now owns 1,862 shares of the company’s stock worth $217,000 after buying an additional 50 shares during the period. Oakbrook Investments LLC increased its position in Vulcan Materials by 1.5% in the second quarter. Oakbrook Investments LLC now owns 12,025 shares of the company’s stock worth $1,447,000 after buying an additional 175 shares during the period. IFP Advisors Inc increased its position in Vulcan Materials by 14.1% in the first quarter. IFP Advisors Inc now owns 1,847 shares of the company’s stock worth $195,000 after buying an additional 228 shares during the period. Finally, DNB Asset Management AS increased 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 worth $1,362,000 after buying an additional 300 shares during the period. 86.71% of the stock is owned by institutional investors.
Vulcan Materials Co. (NYSE:VMC) traded down 1.01% during midday trading on Friday, reaching $113.73. The company had a trading volume of 1,647,083 shares. Vulcan Materials Co. has a 12-month low of $78.83 and a 12-month high of $127.20. The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of 43.39 and a beta of 1.36. The stock’s 50 day moving average is $114.02 and its 200 day moving average is $114.65.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Monday, August 1st. The company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.10. The business earned $956.80 million during the quarter, compared to the consensus estimate of $1.01 billion. Vulcan Materials had a return on equity of 8.74% and a net margin of 9.85%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Equities research analysts expect that Vulcan Materials Co. will post $3.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 24th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.70%. Vulcan Materials’s payout ratio is currently 30.65%.
VMC has been the subject of a number of recent research reports. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a research report on Wednesday, June 29th. Bank of America Corp. reaffirmed a “buy” rating on shares of Vulcan Materials in a research report on Friday, June 17th. Goldman Sachs Group Inc. downgraded Vulcan Materials from a “conviction-buy” rating to a “buy” rating and upped their price target for the stock from $128.00 to $146.00 in a research report on Wednesday, June 8th. Argus reaffirmed a “buy” rating and set a $129.00 price target on shares of Vulcan Materials in a research report on Wednesday, August 3rd. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Vulcan Materials in a research report on Wednesday, August 31st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Vulcan Materials currently has an average rating of “Buy” and an average target price of $128.22.
In other Vulcan Materials news, insider David J. Grayson sold 2,025 shares of Vulcan Materials stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $118.77, for a total value of $240,509.25. Following the completion of the sale, the insider now directly owns 18,637 shares in the company, valued at $2,213,516.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David B. Pasley sold 280 shares of Vulcan Materials stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $117.55, for a total value of $32,914.00. Following the completion of the sale, the insider now owns 2,470 shares of the company’s stock, valued at $290,348.50. The disclosure for this sale can be found here. 0.92% of the stock is owned by company 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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