1,976 Shares of Vulcan Materials Company $VMC Bought by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. purchased a new stake in Vulcan Materials Company (NYSE:VMC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,976 shares of the construction company’s stock, valued at approximately $483,000.

A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Vulcan Materials during the 2nd quarter worth approximately $2,868,444,000. Bank of America Corp DE acquired a new position in Vulcan Materials in the 2nd quarter worth $688,580,000. The Manufacturers Life Insurance Company acquired a new stake in Vulcan Materials during the second quarter valued at approximately $451,119,000. Dimensional Fund Advisors LP lifted its stake in Vulcan Materials by 1.8% in 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 during the last quarter. Finally, Stockbridge Partners LLC acquired a new position in shares of Vulcan Materials during the second quarter valued at approximately $314,470,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

NYSE VMC opened at $297.96 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 0.47. Vulcan Materials Company has a twelve month low of $237.03 and a twelve month high of $331.09. The stock has a fifty day simple moving average of $256.70 and a 200 day simple moving average of $280.20. The company has a market capitalization of $38.24 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 2.93 and a beta of 0.99.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Thursday, October 29th. The construction company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.02. The business 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 company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.84 EPS. Sell-side analysts expect that Vulcan Materials Company will post 8.92 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, November 9th 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 0.7%. The ex-dividend date is Monday, November 9th. Vulcan Materials’s payout ratio is 24.62%.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David Clement sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president owned 6,716 shares of the company’s stock, valued at $1,914,731.60. This trade represents a 22.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J. Hill sold 14,000 shares of Vulcan Materials 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 sale, the director directly owned 58,209 shares of the company’s stock, valued at $16,075,579.53. This represents a 19.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VMC. Stephens increased their price objective on Vulcan Materials from $285.00 to $315.00 and gave the stock an “overweight” rating in a report on Monday. Wall Street Zen cut Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Stifel Nicolaus cut their price target on Vulcan Materials from $333.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Raymond James Financial cut their price target on Vulcan Materials from $320.00 to $308.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Vulcan Materials in a research note on Monday, September 21st. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.72.

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.