Vulcan Materials Company (NYSE:VMC) Shares Bought by Weitz Investment Management Inc.

Weitz Investment Management Inc. raised its stake in Vulcan Materials Company (NYSE:VMC) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,900 shares of the construction company’s stock after acquiring an additional 20,500 shares during the period. Vulcan Materials accounts for approximately 2.6% of Weitz Investment Management Inc.’s portfolio, making the stock its 15th largest position. Weitz Investment Management Inc. owned approximately 0.16% of Vulcan Materials worth $49,436,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Vulcan Materials in the first quarter valued at $27,000. Kapitalo Investimentos Ltda acquired a new position in Vulcan Materials in the fourth quarter valued at $35,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Vulcan Materials during the fourth quarter worth about $46,000. Manchester Capital Management LLC boosted its stake in shares of Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock worth $43,000 after buying an additional 39 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Vulcan Materials during the first quarter worth about $45,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Down 0.0%

Shares of NYSE VMC opened at $274.56 on Monday. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31. The firm has a fifty day moving average of $265.36 and a 200-day moving average of $257.47. The stock has a market capitalization of $36.27 billion, a PE ratio of 38.35, a P/E/G ratio of 2.43 and a beta of 0.83. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the prior year, the firm earned $2.35 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s payout ratio is currently 27.80%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VMC. Stifel Nicolaus increased their target price on shares of Vulcan Materials from $287.00 to $309.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. UBS Group upgraded shares of Vulcan Materials from a “neutral” rating to a “buy” rating and increased their target price for the stock from $280.00 to $318.00 in a research note on Friday, May 16th. Royal Bank Of Canada decreased their target price on shares of Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a research note on Friday. Morgan Stanley decreased their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a research note on Monday, July 28th. Finally, Stephens set a $315.00 target price on shares of Vulcan Materials and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $302.45.

Insider Activity

In other news, SVP David P. Clement sold 1,500 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $270.00, for a total transaction of $405,000.00. Following the completion of the sale, the senior vice president directly owned 2,832 shares of the company’s stock, valued at $764,640. The trade was a 34.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by corporate insiders.

About Vulcan Materials

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in 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.