Moody National Bank Trust Division raised its stake in shares of Vulcan Materials (NYSE:VMC) by 1,059.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,580 shares of the construction company’s stock after acquiring an additional 22,460 shares during the period. Moody National Bank Trust Division’s holdings in Vulcan Materials were worth $2,734,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Morgan Stanley lifted its stake in shares of Vulcan Materials by 28.1% in the 2nd quarter. Morgan Stanley now owns 6,119,088 shares of the construction company’s stock worth $789,730,000 after purchasing an additional 1,341,129 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Vulcan Materials by 19.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,499,127 shares of the construction company’s stock worth $389,102,000 after purchasing an additional 562,427 shares during the period. Fred Alger Management Inc. lifted its stake in shares of Vulcan Materials by 56.3% in the 2nd quarter. Fred Alger Management Inc. now owns 2,644,635 shares of the construction company’s stock worth $341,317,000 after purchasing an additional 952,138 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Vulcan Materials by 35.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,016,741 shares of the construction company’s stock worth $230,251,000 after purchasing an additional 526,595 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Vulcan Materials by 6.0% in the 2nd quarter. Northern Trust Corp now owns 1,518,794 shares of the construction company’s stock worth $196,016,000 after purchasing an additional 86,373 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.
Several equities analysts have recently weighed in on VMC shares. ValuEngine cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. Nomura started coverage on shares of Vulcan Materials in a research note on Monday, October 29th. They issued a “neutral” rating and a $100.00 price objective on the stock. DA Davidson set a $118.00 price objective on shares of Vulcan Materials and gave the stock a “hold” rating in a research note on Thursday, October 11th. Zacks Investment Research upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Finally, Stephens set a $125.00 price objective on shares of Vulcan Materials and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Vulcan Materials currently has a consensus rating of “Hold” and an average price target of $121.45.
Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, October 30th. The construction company reported $1.40 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.40. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. Vulcan Materials had a net margin of 16.84% and a return on equity of 10.20%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. Analysts forecast that Vulcan Materials will post 3.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Wednesday, November 21st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, November 20th. Vulcan Materials’s dividend payout ratio is 36.84%.
About Vulcan Materials
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.
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