Drive Wealth Management LLC Acquires New Shares in Vulcan Materials Company $VMC

Drive Wealth Management LLC acquired a new stake in Vulcan Materials Company (NYSE:VMC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 828 shares of the construction company’s stock, valued at approximately $216,000.

Other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its holdings in Vulcan Materials by 86.3% in the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. Concord Wealth Partners acquired a new position in Vulcan Materials in the second quarter valued at approximately $33,000. Manchester Capital Management LLC lifted its stake in Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock worth $43,000 after purchasing an additional 39 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Vulcan Materials during the first quarter worth $45,000. Finally, Steph & Co. acquired a new position in Vulcan Materials during the second quarter worth $55,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank Of Canada decreased their price target on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st. Citigroup restated a “buy” rating and set a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Morgan Stanley decreased their price target on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Monday, July 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Vulcan Materials in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $313.17.

Vulcan Materials Stock Up 0.9%

Shares of NYSE VMC opened at $298.01 on Wednesday. The stock has a market cap of $39.37 billion, a P/E ratio of 41.62, a PEG ratio of 2.41 and a beta of 0.92. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $311.74. The business’s fifty day simple moving average is $296.44 and its 200-day simple moving average is $274.22.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.20). The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 earnings per share. As a group, equities analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Monday, November 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, November 10th. Vulcan Materials’s dividend payout ratio (DPR) is presently 27.37%.

Insider Activity

In related news, SVP David P. Clement sold 698 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the transaction, the senior vice president owned 2,832 shares of the company’s stock, valued at $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

About Vulcan Materials

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.