Pallas Capital Advisors LLC Invests $689,000 in Vulcan Materials Company $VMC

Pallas Capital Advisors LLC acquired a new stake in shares of Vulcan Materials Company (NYSE:VMC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,337 shares of the construction company’s stock, valued at approximately $689,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Burkett Financial Services LLC acquired a new stake in Vulcan Materials in the second quarter worth $25,000. Meeder Asset Management Inc. boosted its holdings in shares of Vulcan Materials by 71.7% during the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after acquiring an additional 43 shares during the period. Birchwood Financial Partners Inc. acquired a new position in shares of Vulcan Materials during the fourth quarter valued at $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Vulcan Materials during the third quarter worth about $30,000. Finally, WPG Advisers LLC increased its holdings in shares of Vulcan Materials by 56.4% in the 4th quarter. WPG Advisers LLC now owns 122 shares of the construction company’s stock worth $35,000 after acquiring an additional 44 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock opened at $276.49 on Thursday. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The stock has a market cap of $35.83 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06. The company’s 50-day moving average price is $289.60 and its two-hundred day moving average price is $287.91.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.42 EPS. As a group, sell-side analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend 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 currently 24.56%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Berenberg Bank set a $283.00 price target on shares of Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Vulcan Materials in a report on Tuesday, July 7th. Barclays lifted their target price on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Stephens increased their price target on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $327.93.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the sale, the senior vice president directly owned 6,716 shares of the company’s stock, valued at approximately $1,914,731.60. This represents a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

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.