EFG Asset Management North America Corp. Buys New Holdings in Vulcan Materials Company $VMC

EFG Asset Management North America Corp. purchased a new position in Vulcan Materials Company (NYSE:VMC) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 4,006 shares of the construction company’s stock, valued at approximately $1,232,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Vulcan Materials during the second quarter worth $308,908,000. JPMorgan Chase & Co. increased its holdings in Vulcan Materials by 12.3% in 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 acquiring an additional 857,210 shares during the last quarter. Franklin Resources Inc. lifted its stake in Vulcan Materials by 598.5% in the 2nd quarter. Franklin Resources Inc. now owns 719,924 shares of the construction company’s stock worth $187,771,000 after purchasing an additional 616,850 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Vulcan Materials by 48.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,511,427 shares of the construction company’s stock valued at $464,945,000 after purchasing an additional 491,957 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Vulcan Materials by 71.3% during the second 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. Institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VMC shares. Citigroup boosted their target price on Vulcan Materials from $342.00 to $345.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Wells Fargo & Company raised Vulcan Materials to a “hold” rating in a report on Wednesday, October 8th. Raymond James Financial raised their target price on shares of Vulcan Materials from $295.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Stifel Nicolaus set a $327.00 price target on shares of Vulcan Materials in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. increased 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $319.92.

Vulcan Materials Stock Performance

NYSE VMC opened at $298.61 on Wednesday. The business’s 50 day moving average price is $295.28 and its 200-day moving average price is $291.56. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $313.37. The company has a market cap of $39.46 billion, a P/E ratio of 35.46, a P/E/G ratio of 2.28 and a beta of 1.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.56 and a current ratio of 2.23.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.72 by $0.12. Vulcan Materials had a net margin of 14.19% and a return on equity of 13.47%. The company 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 firm earned $2.22 earnings per share. Vulcan Materials’s quarterly revenue was up 14.4% compared to the same quarter last year. Sell-side analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Insider Buying and Selling

In related news, President Thompson S. Baker II sold 7,135 shares of Vulcan Materials stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $300.81, for a total transaction of $2,146,279.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David P. Clement sold 2,000 shares of the stock in a transaction dated 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 directly owned 832 shares in the company, valued at $240,073.60. This trade represents a 70.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 20,471 shares of company stock valued at $6,054,615. Company insiders own 0.61% of the company’s stock.

Vulcan Materials Company 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.