Waverton Investment Management Ltd Buys 22,500 Shares of Vulcan Materials Company $VMC

Waverton Investment Management Ltd boosted its stake in Vulcan Materials Company (NYSE:VMC) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,653 shares of the construction company’s stock after purchasing an additional 22,500 shares during the quarter. Vulcan Materials comprises approximately 1.0% of Waverton Investment Management Ltd’s holdings, making the stock its 26th largest holding. Waverton Investment Management Ltd owned 0.18% of Vulcan Materials worth $74,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Vulcan Materials by 1.8% in the third quarter. Vanguard Group Inc. now owns 17,207,183 shares of the construction company’s stock worth $5,293,274,000 after purchasing an additional 311,539 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Vulcan Materials by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,924,285 shares of the construction company’s stock valued at $2,437,669,000 after buying an additional 99,298 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Vulcan Materials by 5.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company’s stock valued at $2,345,703,000 after buying an additional 414,828 shares in the last quarter. State Street Corp increased its stake in Vulcan Materials by 1.7% in the 2nd quarter. State Street Corp now owns 5,558,791 shares of the construction company’s stock worth $1,449,844,000 after acquiring an additional 95,256 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Vulcan Materials by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,491,618 shares of the construction company’s stock worth $906,961,000 after acquiring an additional 27,531 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, President Thompson S. Baker II sold 7,135 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $300.81, for a total transaction of $2,146,279.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Denson N. Franklin III sold 665 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $295.00, for a total value of $196,175.00. Following the completion of the transaction, the senior vice president directly owned 8,284 shares of the company’s stock, valued at approximately $2,443,780. The trade was a 7.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 8,937 shares of company stock valued at $2,687,784. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup increased their price objective on shares of Vulcan Materials from $342.00 to $345.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Truist Financial upped their target price on shares of Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. DA Davidson dropped their price target on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. B. Riley Financial assumed coverage on Vulcan Materials in a research note on Thursday, January 15th. They set a “buy” rating and a $345.00 price objective on the stock. Finally, Wall Street Zen downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $323.64.

Vulcan Materials Trading Up 0.4%

NYSE VMC opened at $310.10 on Monday. The stock has a market cap of $40.49 billion, a PE ratio of 38.19, a PEG ratio of 2.28 and a beta of 1.05. Vulcan Materials Company has a 12 month low of $215.08 and a 12 month high of $331.09. The company’s 50-day moving average price is $304.42 and its 200-day moving average price is $297.57. The company has a current ratio of 2.69, a quick ratio of 1.97 and a debt-to-equity ratio of 0.51.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, February 17th. The construction company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.41). The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.Vulcan Materials’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 earnings per share. Equities research analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, March 9th. Vulcan Materials’s payout ratio is presently 24.14%.

Vulcan Materials Profile

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.