Axxcess Wealth Management LLC Has $686,000 Stake in Vulcan Materials Company $VMC

Axxcess Wealth Management LLC decreased its position in Vulcan Materials Company (NYSE:VMC) by 11.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,631 shares of the construction company’s stock after selling 346 shares during the period. Axxcess Wealth Management LLC’s holdings in Vulcan Materials were worth $686,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Vulcan Materials by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company’s stock valued at $3,896,031,000 after acquiring an additional 347,155 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Vulcan Materials by 5.6% during the 1st quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company’s stock valued at $1,625,583,000 after buying an additional 370,434 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Vulcan Materials by 7.4% during the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company’s stock valued at $1,518,291,000 after buying an additional 445,691 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Vulcan Materials by 7.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,872,652 shares of the construction company’s stock valued at $495,635,000 after buying an additional 130,949 shares during the period. Finally, Alkeon Capital Management LLC boosted its position in Vulcan Materials by 4.4% during the first quarter. Alkeon Capital Management LLC now owns 1,338,346 shares of the construction company’s stock valued at $312,236,000 after purchasing an additional 56,345 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $295.37 on Friday. The business has a fifty day simple moving average of $296.12 and a 200 day simple moving average of $273.13. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $39.02 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.42 and a beta of 0.92. Vulcan Materials Company has a one year low of $215.08 and a one year high of $311.74.

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 analysts’ consensus estimates of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the company posted $2.35 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Monday, November 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 10th. Vulcan Materials’s dividend payout ratio is 27.37%.

Insider Activity

In other news, SVP David P. Clement sold 698 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the completion of the transaction, the senior vice president directly owned 2,832 shares of the company’s stock, valued at approximately $845,521.92. This represents a 19.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup reaffirmed a “buy” rating and issued a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Barclays boosted their price objective on Vulcan Materials from $285.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Morgan Stanley cut their price target on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a report on Monday, July 28th. Wells Fargo & Company upgraded Vulcan Materials to a “hold” rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $308.58.

Vulcan Materials Company Profile

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.