Hsbc Holdings PLC Boosts Stake in Vulcan Materials Company $VMC

Hsbc Holdings PLC grew its position in shares of Vulcan Materials Company (NYSE:VMC) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 223,520 shares of the construction company’s stock after buying an additional 4,847 shares during the quarter. Hsbc Holdings PLC’s holdings in Vulcan Materials were worth $63,842,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In related news, SVP David P. Clement sold 2,212 shares of Vulcan Materials stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the transaction, the senior vice president directly owned 8,716 shares in the company, valued at approximately $2,547,599.64. The trade was a 20.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.

Vulcan Materials Trading Up 0.7%

Shares of Vulcan Materials stock opened at $304.93 on Tuesday. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09. The stock’s 50-day simple moving average is $284.52 and its 200 day simple moving average is $290.32. The stock has a market capitalization of $39.57 billion, a P/E ratio of 36.26, a P/E/G 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 (NYSE:VMC) last issued 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 during the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $1.00 earnings per share. As a group, research analysts anticipate that Vulcan Materials Company will post 9.28 EPS for the current year.

Vulcan Materials Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Zacks Research upgraded shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. Royal Bank Of Canada boosted their target price 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. Morgan Stanley decreased their price target on shares of Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 price target (down from $335.00) on shares of Vulcan Materials in a report on Wednesday, March 4th. Finally, Stifel Nicolaus set a $333.00 price objective on Vulcan Materials in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $326.92.

Vulcan Materials Profile

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.