Parkside Financial Bank & Trust Acquires 2,071 Shares of Vulcan Materials Company $VMC

Parkside Financial Bank & Trust lifted its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 407.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,579 shares of the construction company’s stock after buying an additional 2,071 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Vulcan Materials were worth $761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of VMC. HighTower Advisors LLC lifted its holdings in Vulcan Materials by 1.1% in the second quarter. HighTower Advisors LLC now owns 333,997 shares of the construction company’s stock valued at $98,532,000 after buying an additional 3,756 shares during the period. Groupe la Francaise acquired a new stake in Vulcan Materials during the 2nd quarter worth $455,000. California State Teachers Retirement System grew its holdings in Vulcan Materials by 30,567.8% during the 2nd quarter. California State Teachers Retirement System now owns 68,744,705 shares of the construction company’s stock worth $20,280,375,000 after acquiring an additional 68,520,546 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Vulcan Materials in the 2nd quarter valued at $451,000. Finally, Wedmont Private Capital boosted its position in shares of Vulcan Materials by 2.6% in the 2nd quarter. Wedmont Private Capital now owns 1,877 shares of the construction company’s stock worth $554,000 after purchasing an additional 47 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VMC has been the subject of a number of analyst reports. Citigroup decreased their price objective on Vulcan Materials from $355.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Royal Bank Of Canada increased their target price on Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Wells Fargo & Company decreased their target price on Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Finally, Berenberg Bank set a $283.00 price target on Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $328.64.

Insider Buying and Selling at Vulcan Materials

In related news, SVP David Clement sold 2,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the sale, the senior vice president directly owned 6,716 shares in the company, valued at $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director J. Hill sold 14,000 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the sale, the director directly owned 58,209 shares in the company, valued at $16,075,579.53. This represents a 19.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,212 shares of company stock valued at $5,083,125 in the last three months. 0.65% of the stock is owned by insiders.

Vulcan Materials Price Performance

Shares of VMC opened at $258.86 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. The stock has a 50 day simple moving average of $280.79 and a 200 day simple moving average of $283.23. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09. The firm has a market capitalization of $33.54 billion, a PE ratio of 30.56, a P/E/G ratio of 2.36 and a beta of 1.05.

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

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. Vulcan Materials’s dividend payout ratio is currently 24.56%.

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.