True Vision MN LLC Invests $621,000 in Vulcan Materials Company $VMC

True Vision MN LLC purchased a new position in Vulcan Materials Company (NYSE:VMC) during the first quarter, Holdings Channel reports. The firm purchased 2,281 shares of the construction company’s stock, valued at approximately $621,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of VMC. Geode Capital Management LLC grew its stake in Vulcan Materials by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company’s stock worth $1,016,168,000 after buying an additional 32,012 shares in the last quarter. Bank of America Corp DE raised its position in shares of Vulcan Materials by 0.4% in the 3rd quarter. Bank of America Corp DE now owns 2,318,474 shares of the construction company’s stock valued at $713,209,000 after buying an additional 9,030 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Vulcan Materials by 7.9% during the 4th quarter. Morgan Stanley now owns 1,727,232 shares of the construction company’s stock worth $492,642,000 after acquiring an additional 126,523 shares during the period. Lone Pine Capital LLC bought a new stake in shares of Vulcan Materials during the 3rd quarter worth approximately $425,938,000. Finally, Norges Bank acquired a new stake in shares of Vulcan Materials during the 4th quarter worth approximately $383,613,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $303.63 on Monday. The company has a market cap of $39.40 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. The firm has a 50 day simple moving average of $284.28 and a 200 day simple moving average of $290.21. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09.

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

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 22nd. Vulcan Materials’s dividend payout ratio is presently 24.73%.

Insider Buying and Selling

In other news, SVP David P. Clement sold 2,212 shares of Vulcan Materials stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the sale, the senior vice president directly owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VMC. Royal Bank Of Canada lifted their price objective on shares of Vulcan Materials from $296.00 to $298.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Raymond James Financial set a $325.00 target price on Vulcan Materials in a research note on Thursday, April 30th. Wall Street Zen raised Vulcan Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup reduced their target price on Vulcan Materials from $365.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Berenberg Bank set a $283.00 price target on Vulcan Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $326.92.

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.