Knights of Columbus Asset Advisors LLC raised its holdings in Vulcan Materials Company (NYSE:VMC) by 11.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,400 shares of the construction company’s stock after buying an additional 850 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Vulcan Materials were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Tahithromos L.L.C. purchased a new stake in shares of Vulcan Materials in the third quarter valued at about $1,136,000. LMR Partners LLP purchased a new stake in shares of Vulcan Materials in the third quarter valued at about $220,000. FCA Corp TX purchased a new stake in shares of Vulcan Materials in the third quarter valued at about $215,000. Norinchukin Bank The raised its holdings in shares of Vulcan Materials by 7.4% in the third quarter. Norinchukin Bank The now owns 9,846 shares of the construction company’s stock valued at $1,178,000 after purchasing an additional 675 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Vulcan Materials by 12.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,083 shares of the construction company’s stock valued at $4,435,000 after purchasing an additional 4,179 shares during the last quarter. 87.28% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, insider David B. Pasley sold 1,250 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $121.51, for a total transaction of $151,887.50. Following the completion of the sale, the insider now owns 2,857 shares in the company, valued at $347,154.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael R. Mills sold 981 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total transaction of $115,316.55. Following the sale, the insider now owns 23,871 shares of the company’s stock, valued at approximately $2,806,036.05. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, November 1st. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.36). Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business posted $1.01 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. research analysts predict that Vulcan Materials Company will post 3.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.81%. Vulcan Materials’s dividend payout ratio (DPR) is presently 34.97%.
VMC has been the subject of several analyst reports. BidaskClub downgraded shares of Vulcan Materials from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “hold” rating and issued a $122.00 target price on shares of Vulcan Materials in a report on Friday, October 13th. Bank of America Corporation lowered their target price on shares of Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating for the company in a report on Thursday, October 19th. Citigroup Inc. reiterated a “buy” rating and issued a $140.00 target price (down previously from $145.00) on shares of Vulcan Materials in a report on Monday, October 9th. Finally, Stephens upgraded shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $140.00 to $145.00 in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Vulcan Materials has an average rating of “Hold” and an average target price of $140.00.
About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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