MidFirst Bank Buys New Holdings in Vulcan Materials Company $VMC

MidFirst Bank purchased a new position in shares of Vulcan Materials Company (NYSE:VMC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 7,633 shares of the construction company’s stock, valued at approximately $2,177,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. NBT Bank N A NY acquired a new stake in Vulcan Materials in the fourth quarter valued at approximately $26,000. Birchwood Financial Partners Inc. bought a new stake in shares of Vulcan Materials during the fourth quarter valued at approximately $29,000. Godsey & Gibb Inc. acquired a new position in shares of Vulcan Materials during the fourth quarter worth approximately $30,000. Measured Wealth Private Client Group LLC bought a new position in shares of Vulcan Materials in the 3rd quarter worth $30,000. Finally, WPG Advisers LLC lifted 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 purchasing an additional 44 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Wall Street Zen raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Citigroup reduced their price objective on shares of Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Research raised shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. Finally, Berenberg Bank set a $283.00 target price on shares of Vulcan Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $326.92.

Insider Activity

In related news, SVP David P. Clement sold 2,212 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the sale, the senior vice president directly owned 8,716 shares in the company, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Vulcan Materials Stock Up 3.0%

Shares of NYSE VMC opened at $303.63 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. The stock has a market capitalization of $39.40 billion, a PE ratio of 36.10, a P/E/G ratio of 2.13 and a beta of 1.05. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09. The business’s fifty day moving average price is $284.07 and its 200-day moving average price is $290.13.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.25. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the firm posted $1.00 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts anticipate that Vulcan Materials Company will post 9.28 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s payout ratio is 24.73%.

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.