Ironvine Capital Partners LLC Acquires New Shares in Vulcan Materials Company $VMC

Ironvine Capital Partners LLC acquired a new position in shares of Vulcan Materials Company (NYSE:VMC) during the second quarter, Holdings Channel.com reports. The fund acquired 34,046 shares of the construction company’s stock, valued at approximately $10,044,000.

Several other large investors have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its holdings in Vulcan Materials by 38.6% during the 2nd quarter. Proficio Capital Partners LLC now owns 2,266 shares of the construction company’s stock valued at $668,000 after buying an additional 631 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Vulcan Materials in the second quarter worth about $223,000. Montanova Capital LLC boosted its position in shares of Vulcan Materials by 18.4% in the second quarter. Montanova Capital LLC now owns 214,978 shares of the construction company’s stock valued at $63,421,000 after acquiring an additional 33,384 shares during the period. Quantitative Investment Management LLC purchased a new position in Vulcan Materials during the second quarter valued at approximately $1,281,000. Finally, Ancora Advisors LLC grew its stake in Vulcan Materials by 7.0% during the second quarter. Ancora Advisors LLC now owns 1,430 shares of the construction company’s stock valued at $422,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on VMC shares. Raymond James Financial reiterated an “outperform” rating on shares of Vulcan Materials in a research note on Wednesday, July 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a report on Tuesday, July 7th. Royal Bank Of Canada increased their price objective on Vulcan Materials from $293.00 to $300.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Oppenheimer started coverage on Vulcan Materials in a research note on Thursday, May 28th. They set a “market perform” rating for the company. Finally, DA Davidson assumed coverage on Vulcan Materials in a research report on Tuesday, August 25th. They set a “buy” rating and a $330.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $328.64.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the sale, the senior vice president owned 6,716 shares of the company’s stock, valued at $1,914,731.60. This represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Thomas Hill sold 14,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the transaction, the director owned 58,209 shares in the company, valued at $16,075,579.53. The trade was a 19.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,212 shares of company stock valued at $5,083,125. 0.65% of the stock is owned by insiders.

Vulcan Materials Trading Down 3.7%

NYSE VMC opened at $259.53 on Wednesday. The stock’s 50-day simple moving average is $285.22 and its two-hundred day simple moving average is $285.14. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $33.63 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 2.43 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the business earned $2.42 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Research analysts forecast that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be given a $0.52 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Vulcan Materials’s payout ratio is presently 24.56%.

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.