Hsbc Holdings PLC Has $63.84 Million Stake in Vulcan Materials Company $VMC

Hsbc Holdings PLC increased its stake in Vulcan Materials Company (NYSE:VMC) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,520 shares of the construction company’s stock after acquiring an additional 4,847 shares during the quarter. Hsbc Holdings PLC owned 0.17% of Vulcan Materials worth $63,842,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lone Pine Capital LLC acquired a new stake in Vulcan Materials in the third quarter worth $425,938,000. Norges Bank acquired a new position in shares of Vulcan Materials during the fourth quarter valued at about $383,613,000. Egerton Capital UK LLP bought a new position in shares of Vulcan Materials during the 4th quarter worth about $273,861,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Vulcan Materials by 121.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 717,409 shares of the construction company’s stock worth $204,619,000 after purchasing an additional 393,339 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Vulcan Materials by 993.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock valued at $113,126,000 after buying an additional 360,368 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VMC shares. Barclays upped their price target on Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $333.00 price objective on Vulcan Materials in a research note on Thursday, April 30th. Citigroup decreased their price objective on Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a report on Friday, May 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 target price (down from $335.00) on shares of Vulcan Materials in a research report on Wednesday, March 4th. Finally, Stephens increased their target price on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Vulcan Materials has a consensus rating of “Hold” and a consensus target price of $326.92.

Vulcan Materials Price Performance

VMC stock opened at $304.93 on Tuesday. The company has a market capitalization of $39.57 billion, a P/E ratio of 36.26, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09. The business has a 50-day simple moving average of $284.52 and a two-hundred day simple moving average of $290.32.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.25. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. Research analysts expect that Vulcan Materials Company will post 9.28 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a dividend of $0.52 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials’s dividend payout ratio is 24.73%.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the transaction, the senior vice president directly owned 8,716 shares in the company, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.