Renaissance Technologies LLC Invests $46.46 Million in Vulcan Materials Company $VMC

Renaissance Technologies LLC acquired a new position in shares of Vulcan Materials Company (NYSE:VMC) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 170,605 shares of the construction company’s stock, valued at approximately $46,456,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in shares of Vulcan Materials in the 4th quarter worth $497,000. NewEdge Advisors LLC boosted its position in shares of Vulcan Materials by 3.9% during the 1st quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company’s stock valued at $1,017,000 after acquiring an additional 163 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Vulcan Materials by 6.3% during the 1st quarter. Empowered Funds LLC now owns 3,195 shares of the construction company’s stock valued at $745,000 after acquiring an additional 190 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Vulcan Materials by 28.5% in the first quarter. Focus Partners Wealth now owns 3,321 shares of the construction company’s stock valued at $775,000 after purchasing an additional 736 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Vulcan Materials by 31.5% in the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company’s stock valued at $78,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the sale, the senior vice president owned 8,716 shares in the company, valued at $2,547,599.64. This represents a 20.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by company insiders.

Vulcan Materials Stock Up 1.7%

Shares of VMC opened at $284.53 on Tuesday. The stock has a market capitalization of $36.92 billion, a PE ratio of 33.83, a P/E/G ratio of 2.01 and a beta of 1.05. Vulcan Materials Company has a 1 year low of $252.35 and a 1 year high of $331.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. The company’s 50-day simple moving average is $287.14 and its 200-day simple moving average is $290.44.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.25. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company earned $1.00 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Analysts forecast that Vulcan Materials Company will post 9.3 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s payout ratio is presently 24.73%.

Analyst Ratings Changes

A number of equities analysts have commented on VMC shares. Royal Bank Of Canada reduced their target price on shares of Vulcan Materials from $298.00 to $293.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 30th. Stephens increased their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Zacks Research upgraded shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. Wall Street Zen lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Berenberg Bank set a $283.00 price objective on Vulcan Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and a consensus target price of $327.79.

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.