Elevation Point Wealth Partners LLC Buys Shares of 3,267 Vulcan Materials Company $VMC

Elevation Point Wealth Partners LLC purchased a new position in shares of Vulcan Materials Company (NYSE:VMC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,267 shares of the construction company’s stock, valued at approximately $964,000.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Vulcan Materials in the second quarter worth about $2,868,444,000. Geode Capital Management LLC grew its holdings in shares of Vulcan Materials by 0.9% during 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 last quarter. Bank of America Corp DE grew its holdings in shares of Vulcan Materials by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,309,444 shares of the construction company’s stock valued at $602,349,000 after purchasing an additional 133,523 shares during the last quarter. Morgan Stanley increased its position in 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Vulcan Materials by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company’s stock worth $366,592,000 after purchasing an additional 24,187 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Trading Down 0.1%

Shares of VMC stock opened at $275.87 on Tuesday. The company has a market cap of $35.75 billion, a P/E ratio of 32.57, a PEG ratio of 1.99 and a beta of 1.06. The stock has a 50 day simple moving average of $288.85 and a two-hundred day simple moving average of $287.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the business earned $2.42 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Research analysts forecast that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s dividend payout ratio is 24.56%.

Insider Activity

In other news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the sale, the senior vice president directly owned 8,716 shares in the company, valued at $2,547,599.64. This trade represents a 20.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Royal Bank Of Canada increased their price target on Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Wells Fargo & Company cut their price objective on Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Finally, Oppenheimer initiated coverage on Vulcan Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $327.93.

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.