Point72 Asset Management L.P. Increases Position in Vulcan Materials (VMC)

Point72 Asset Management L.P. boosted its position in shares of Vulcan Materials (NYSE:VMC) by 116.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,038,752 shares of the construction company’s stock after buying an additional 558,900 shares during the period. Vulcan Materials makes up about 0.6% of Point72 Asset Management L.P.’s portfolio, making the stock its 28th biggest holding. Point72 Asset Management L.P. owned about 0.79% of Vulcan Materials worth $124,235,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Vulcan Materials by 4,985.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,209,593 shares of the construction company’s stock valued at $533,271,000 after purchasing an additional 4,126,822 shares during the last quarter. Third Point LLC bought a new stake in shares of Vulcan Materials in the 2nd quarter valued at approximately $202,688,000. Cramer Rosenthal Mcglynn LLC bought a new stake in shares of Vulcan Materials in the 2nd quarter valued at approximately $58,623,000. CI Investments Inc. bought a new stake in shares of Vulcan Materials in the 3rd quarter valued at approximately $55,271,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Vulcan Materials by 71.2% in the 3rd quarter. Principal Financial Group Inc. now owns 949,062 shares of the construction company’s stock valued at $113,508,000 after purchasing an additional 394,854 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

Shares of Vulcan Materials (VMC) traded up $1.00 during midday trading on Monday, hitting $125.88. The stock had a trading volume of 1,359,300 shares, compared to its average volume of 1,262,479. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.34 and a current ratio of 4.22. Vulcan Materials has a 12-month low of $108.95 and a 12-month high of $136.82. The stock has a market capitalization of $16,470.00, a P/E ratio of 42.38, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, November 1st. The construction company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.36). Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. research analysts expect that Vulcan Materials will post 3.04 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.79%. Vulcan Materials’s payout ratio is 34.13%.

In other news, insider Michael R. Mills sold 981 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total value of $115,316.55. Following the sale, the insider now directly owns 23,871 shares in the company, valued at $2,806,036.05. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.89% of the company’s stock.

Several research firms have recently issued reports on VMC. Jefferies Group raised their price objective on Vulcan Materials from $122.00 to $128.00 and gave the company a “hold” rating in a research note on Friday, November 3rd. Bank of America lowered their price objective on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $154.00 price objective on shares of Vulcan Materials in a research note on Tuesday, October 10th. Finally, Citigroup reaffirmed a “buy” rating and issued a $140.00 price objective (down from $145.00) on shares of Vulcan Materials in a research note on Monday, October 9th. Two equities 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 stock. The stock has an average rating of “Hold” and a consensus price target of $140.00.

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Vulcan Materials Profile

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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Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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