Mirae Asset Global Investments Co. Ltd. Purchases 33,192 Shares of Vulcan Materials Company $VMC

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Vulcan Materials Company (NYSE:VMC) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 33,192 shares of the construction company’s stock, valued at approximately $8,120,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Vulcan Materials in the 2nd quarter valued at $2,868,444,000. Bank of America Corp DE acquired a new position in Vulcan Materials during the second quarter worth $688,580,000. The Manufacturers Life Insurance Company acquired a new position in Vulcan Materials during the second quarter worth $451,119,000. Dimensional Fund Advisors LP raised its holdings in Vulcan Materials by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company’s stock valued at $366,592,000 after buying an additional 24,187 shares in the last quarter. Finally, Stockbridge Partners LLC bought a new position in Vulcan Materials during the second quarter valued at about $314,470,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Up 4.7%

Vulcan Materials stock opened at $297.96 on Thursday. Vulcan Materials Company has a 52 week low of $237.03 and a 52 week high of $331.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.43. The firm has a market capitalization of $38.24 billion, a PE ratio of 33.60, a PEG ratio of 2.93 and a beta of 0.99. The business’s 50-day simple moving average is $256.70 and its 200-day simple moving average is $280.20.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Thursday, October 29th. The construction company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.02. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.24 billion. Vulcan Materials had a return on equity of 13.03% and a net margin of 13.77%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.84 EPS. Equities research analysts forecast that Vulcan Materials Company will post 8.92 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, November 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, November 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials’s payout ratio is 24.62%.

Analyst Ratings Changes

A number of brokerages have weighed in on VMC. Wall Street Zen cut Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. JPMorgan Chase & Co. lowered their price objective on Vulcan Materials from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. UBS Group reduced their target price on Vulcan Materials from $349.00 to $326.00 and set a “buy” rating for the company in a report on Thursday, October 8th. BNP Paribas Exane reduced their target price on Vulcan Materials from $290.00 to $281.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Finally, B. Riley Financial increased their price target on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Monday. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Vulcan Materials currently has an average rating of “Moderate Buy” and an average target price of $310.72.

Insider Activity at Vulcan Materials

In related news, SVP David P. Clement sold 2,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the transaction, the senior vice president owned 6,716 shares of the company’s stock, valued at approximately $1,914,731.60. The trade was a 22.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J. Hill sold 14,000 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the transaction, the director directly owned 58,209 shares in the company, valued at $16,075,579.53. This trade represents a 19.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is currently owned by corporate insiders.

Vulcan Materials Profile

Vulcan Materials Company (NYSE: VMC) is a producer and distributor of construction materials used in infrastructure, commercial, residential and industrial projects. The company is the largest producer of construction aggregates in the United States, including crushed stone, sand and gravel.

In addition to aggregates, Vulcan Materials produces asphalt mix, ready-mixed concrete and cement. Its materials are used in roads, bridges, airports, commercial buildings, homes and other construction applications.