Midwest Trust Co Acquires New Stake in Vulcan Materials Company $VMC

Midwest Trust Co acquired a new stake in Vulcan Materials Company (NYSE:VMC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,425 shares of the construction company’s stock, valued at approximately $372,000.

Several other hedge funds also recently made changes to their positions in VMC. ORG Partners LLC boosted its holdings in shares of Vulcan Materials by 86.3% in the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Vulcan Materials in the second quarter valued at about $32,000. Concord Wealth Partners purchased a new stake in Vulcan Materials in the 2nd quarter valued at approximately $33,000. Manchester Capital Management LLC boosted its holdings in Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock valued at $43,000 after purchasing an additional 39 shares in the last quarter. Finally, Steph & Co. acquired a new position in Vulcan Materials during the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VMC. Citigroup cut their target price on Vulcan Materials from $356.00 to $342.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. upped their price objective on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Vulcan Materials in a report on Thursday, October 30th. Barclays boosted their target price on shares of Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Wells Fargo & Company raised shares of Vulcan Materials to a “hold” rating in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $317.58.

Vulcan Materials Stock Performance

Shares of VMC stock opened at $295.20 on Thursday. The stock has a fifty day moving average price of $296.47 and a 200 day moving average price of $280.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. The stock has a market cap of $39.00 billion, a PE ratio of 41.23, a P/E/G ratio of 2.39 and a beta of 0.95. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $311.74.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.12. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the company earned $2.22 earnings per share. Vulcan Materials’s revenue was up 14.4% compared to the same quarter last year. Sell-side analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, November 10th. Vulcan Materials’s dividend payout ratio (DPR) is 23.28%.

Insider Activity

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the transaction, the senior vice president owned 2,832 shares in the company, valued at approximately $845,521.92. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Thompson S. Baker II sold 5,818 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $292.26, for a total transaction of $1,700,368.68. The SEC filing for this sale provides additional information. Company insiders own 0.62% of the company’s stock.

Vulcan Materials Company Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.