Vulcan Materials Company $VMC Stock Position Boosted by Alkeon Capital Management LLC

Alkeon Capital Management LLC raised its stake in shares of Vulcan Materials Company (NYSE:VMC) by 10.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,478,646 shares of the construction company’s stock after buying an additional 140,300 shares during the period. Vulcan Materials comprises approximately 0.6% of Alkeon Capital Management LLC’s holdings, making the stock its 23rd largest position. Alkeon Capital Management LLC’s holdings in Vulcan Materials were worth $385,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Vulcan Materials during the second quarter valued at approximately $308,908,000. JPMorgan Chase & Co. boosted its stake in Vulcan Materials by 12.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,824,987 shares of the construction company’s stock valued at $2,040,914,000 after purchasing an additional 857,210 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Vulcan Materials by 598.5% during the 2nd quarter. Franklin Resources Inc. now owns 719,924 shares of the construction company’s stock valued at $187,771,000 after purchasing an additional 616,850 shares during the period. Jones Financial Companies Lllp lifted its holdings in Vulcan Materials by 11,723.8% in the 1st quarter. Jones Financial Companies Lllp now owns 425,538 shares of the construction company’s stock valued at $99,278,000 after acquiring an additional 421,939 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Vulcan Materials by 71.3% during the 2nd quarter. AQR Capital Management LLC now owns 566,909 shares of the construction company’s stock valued at $147,861,000 after purchasing an additional 236,058 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Performance

VMC opened at $296.07 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.56 and a current ratio of 2.23. The company has a market cap of $39.12 billion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 2.45 and a beta of 1.06. The stock has a 50-day moving average of $293.38 and a 200-day moving average of $283.81. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $311.74.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.12. Vulcan Materials had a return on equity of 13.47% and a net margin of 14.19%.The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the company earned $2.22 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, equities research analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials’s payout ratio is currently 23.28%.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP Denson N. Franklin III sold 665 shares of Vulcan Materials stock in a transaction that occurred 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 transaction, the senior vice president directly owned 8,284 shares of the company’s stock, valued at $2,443,780. The trade was a 7.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $288.55, for a total transaction of $577,100.00. Following the completion of the sale, the senior vice president owned 832 shares in the company, valued at approximately $240,073.60. The trade was a 70.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,336 shares of company stock worth $3,908,336 over the last ninety days. Company insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

VMC has been the topic of a number of research reports. Citigroup dropped their target price on shares of Vulcan Materials from $356.00 to $342.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Wells Fargo & Company raised shares of Vulcan Materials to a “hold” rating in a research note on Wednesday, October 8th. DA Davidson lifted their target price on Vulcan Materials from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. boosted their price objective on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Vulcan Materials in a research report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $317.58.

About Vulcan Materials

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.