Wedbush Securities Inc. Purchases 744 Shares of Vulcan Materials Company $VMC

Wedbush Securities Inc. boosted its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 63.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,915 shares of the construction company’s stock after buying an additional 744 shares during the period. Wedbush Securities Inc.’s holdings in Vulcan Materials were worth $499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC raised its holdings in shares of Vulcan Materials by 45.7% in the 2nd quarter. Savant Capital LLC now owns 3,836 shares of the construction company’s stock valued at $1,001,000 after acquiring an additional 1,204 shares in the last quarter. Malaga Cove Capital LLC increased its position in shares of Vulcan Materials by 74.4% in the second quarter. Malaga Cove Capital LLC now owns 2,265 shares of the construction company’s stock worth $591,000 after purchasing an additional 966 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Vulcan Materials by 7.5% in the second quarter. Golden State Wealth Management LLC now owns 1,022 shares of the construction company’s stock valued at $267,000 after purchasing an additional 71 shares in the last quarter. Waverton Investment Management Ltd lifted its position in Vulcan Materials by 3.9% during the second quarter. Waverton Investment Management Ltd now owns 220,153 shares of the construction company’s stock valued at $57,403,000 after purchasing an additional 8,272 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its position in Vulcan Materials by 6.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 43,559 shares of the construction company’s stock valued at $11,370,000 after purchasing an additional 2,452 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP David P. Clement sold 698 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the sale, the senior vice president owned 2,832 shares of the company’s stock, valued at approximately $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Thompson S. Baker II sold 5,818 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $292.26, for a total transaction of $1,700,368.68. The SEC filing for this sale provides additional information. Corporate insiders own 0.62% of the company’s stock.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock opened at $294.65 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $311.74. The company has a fifty day moving average of $296.33 and a 200-day moving average of $280.19. The stock has a market capitalization of $38.93 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 2.39 and a beta of 0.95.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.12. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the firm posted $2.22 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities research analysts expect that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Monday, November 10th will be issued a dividend of $0.49 per share. The ex-dividend date is Monday, November 10th. This represents a $1.96 annualized dividend and a yield of 0.7%. Vulcan Materials’s dividend payout ratio is currently 23.28%.

Wall Street Analysts Forecast Growth

VMC has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Vulcan Materials to a “hold” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Stifel Nicolaus set a $327.00 target price on Vulcan Materials in a research note on Monday, November 3rd. Royal Bank Of Canada lowered their price target on Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Finally, Barclays upped their price objective on Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Two 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. Based on data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus price target of $317.58.

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.