Rakuten Investment Management Inc. Invests $32.90 Million in Vulcan Materials Company $VMC

Rakuten Investment Management Inc. bought a new stake in Vulcan Materials Company (NYSE:VMC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 106,956 shares of the construction company’s stock, valued at approximately $32,902,000.

A number of other hedge funds have also bought and sold shares of VMC. ORG Partners LLC raised its stake in Vulcan Materials by 86.3% in the 2nd quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Vulcan Materials during the second quarter worth approximately $32,000. Concord Wealth Partners bought a new position in shares of Vulcan Materials during the second quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Vulcan Materials in the third quarter valued at approximately $42,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Vulcan Materials in the third quarter valued at approximately $46,000. 90.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, President Thompson S. Baker II sold 7,135 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $300.81, for a total value of $2,146,279.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Denson N. Franklin III sold 665 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $295.00, for a total transaction of $196,175.00. Following the transaction, the senior vice president owned 8,284 shares of the company’s stock, valued at $2,443,780. This trade represents a 7.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,471 shares of company stock worth $6,054,615 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on VMC. B. Riley initiated coverage on Vulcan Materials in a research note on Thursday, January 15th. They set a “buy” rating and a $345.00 price objective on the stock. Stifel Nicolaus set a $327.00 price target on Vulcan Materials in a research report on Monday, November 3rd. JPMorgan Chase & Co. upped their price objective on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Raymond James Financial raised their target price on shares of Vulcan Materials from $295.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Barclays boosted their target price on shares of Vulcan Materials from $305.00 to $320.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $319.92.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $296.23 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 2.23 and a debt-to-equity ratio of 0.50. The stock has a market cap of $39.14 billion, a PE ratio of 35.18, a P/E/G ratio of 2.32 and a beta of 1.06. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $313.37. The business’s 50-day moving average price is $293.68 and its two-hundred day moving average price is $290.44.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Thursday, October 30th. The construction company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.12. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Vulcan Materials had a net margin of 14.19% and a return on equity of 13.47%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.22 earnings per share. As a group, analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.