Daiichi Life Insurance Co. Ltd. Buys Shares of 6,648 Vulcan Materials Company $VMC

Daiichi Life Insurance Co. Ltd. purchased a new position in Vulcan Materials Company (NYSE:VMC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,648 shares of the construction company’s stock, valued at approximately $1,961,000.

A number of other hedge funds also recently modified their holdings of the business. Brighton Jones LLC bought a new stake in Vulcan Materials during the 4th quarter worth approximately $497,000. NewEdge Advisors LLC boosted its holdings in shares of Vulcan Materials by 3.9% in the first quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company’s stock valued at $1,017,000 after buying an additional 163 shares during the period. Empowered Funds LLC raised its holdings in shares of Vulcan Materials by 6.3% during the first quarter. Empowered Funds LLC now owns 3,195 shares of the construction company’s stock worth $745,000 after acquiring an additional 190 shares during the period. Focus Partners Wealth lifted its position in Vulcan Materials by 28.5% in the 1st quarter. Focus Partners Wealth now owns 3,321 shares of the construction company’s stock valued at $775,000 after acquiring an additional 736 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Vulcan Materials by 31.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company’s stock valued at $78,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Trading Down 0.2%

Shares of Vulcan Materials stock opened at $275.48 on Monday. The stock has a market cap of $35.70 billion, a P/E ratio of 32.52, a P/E/G ratio of 1.99 and a beta of 1.06. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The business’s 50 day moving average is $289.19 and its 200-day moving average is $287.48.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the company earned $2.42 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts predict that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s dividend payout ratio is presently 24.56%.

Analysts Set New Price Targets

Several research firms have issued reports on VMC. Wall Street Zen downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Barclays lifted their target price on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Stephens upped their price target on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. UBS Group lowered their price objective on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Vulcan Materials in a research report on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and an average target price of $327.93.

Insider Transactions at Vulcan Materials

In related news, SVP David P. Clement sold 2,000 shares of Vulcan Materials stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the transaction, the senior vice president owned 6,716 shares in the company, valued at approximately $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.

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.