NEOS Investment Management LLC Has $6.34 Million Stake in Vulcan Materials Company $VMC

NEOS Investment Management LLC increased its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 13.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,481 shares of the construction company’s stock after buying an additional 2,574 shares during the quarter. NEOS Investment Management LLC’s holdings in Vulcan Materials were worth $6,337,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of VMC. BlackRock Inc. acquired a new position in shares of Vulcan Materials in the second quarter worth $2,868,444,000. Geode Capital Management LLC boosted its position in Vulcan Materials by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company’s stock valued at $1,016,168,000 after purchasing an additional 32,012 shares during the last quarter. Bank of America Corp DE acquired a new stake in Vulcan Materials during the second quarter valued at $688,580,000. Morgan Stanley grew its stake in Vulcan Materials by 7.9% in the fourth quarter. Morgan Stanley now owns 1,727,232 shares of the construction company’s stock valued at $492,642,000 after purchasing an additional 126,523 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Vulcan Materials in the second quarter valued at about $451,119,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP David P. Clement sold 2,212 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the completion of the transaction, the senior vice president directly owned 8,716 shares in the company, valued at $2,547,599.64. The trade was a 20.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Hill sold 14,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $16,075,579.53. The trade was a 19.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 18,212 shares of company stock worth $5,083,125. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VMC. DA Davidson initiated coverage on Vulcan Materials in a research note on Tuesday, August 25th. They set a “buy” rating and a $330.00 price target for the company. Oppenheimer began coverage on Vulcan Materials in a research note on Thursday, May 28th. They issued a “market perform” rating for the company. Raymond James Financial restated an “outperform” rating on shares of Vulcan Materials in a report on Wednesday, July 15th. Citigroup cut their price objective on shares of Vulcan Materials from $355.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Wells Fargo & Company reduced their target price on shares of Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average price target of $328.64.

Vulcan Materials Price Performance

NYSE VMC opened at $262.93 on Friday. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. The stock’s 50-day moving average is $282.33 and its two-hundred day moving average is $284.11. The firm has a market cap of $34.07 billion, a P/E ratio of 31.04, a price-to-earnings-growth ratio of 2.36 and a beta of 1.05. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20.

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

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, August 13th. Vulcan Materials’s dividend payout ratio (DPR) is 24.56%.

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.