Bank of Nova Scotia Buys 18,182 Shares of Vulcan Materials Company $VMC

Bank of Nova Scotia increased its position in shares of Vulcan Materials Company (NYSE:VMC) by 83.4% during the first quarter, HoldingsChannel.com reports. The fund owned 39,989 shares of the construction company’s stock after acquiring an additional 18,182 shares during the period. Bank of Nova Scotia’s holdings in Vulcan Materials were worth $10,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of Vulcan Materials in the fourth quarter worth $497,000. NewEdge Advisors LLC raised its position in shares of Vulcan Materials by 3.9% in the first quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company’s stock worth $1,017,000 after buying an additional 163 shares in the last quarter. Empowered Funds LLC boosted its stake in Vulcan Materials by 6.3% during the first quarter. Empowered Funds LLC now owns 3,195 shares of the construction company’s stock valued at $745,000 after buying an additional 190 shares during the period. Focus Partners Wealth boosted its stake in Vulcan Materials by 28.5% during the first quarter. Focus Partners Wealth now owns 3,321 shares of the construction company’s stock valued at $775,000 after buying an additional 736 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Vulcan Materials by 31.5% during the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company’s stock worth $78,000 after buying an additional 80 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the 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 sale, the senior vice president owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

Vulcan Materials Stock Up 0.2%

VMC opened at $280.20 on Monday. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $286.78 and its 200-day moving average price is $290.55. The company has a market cap of $36.36 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.01 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating 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 analysts’ expectations of $1.64 billion. During the same period in the prior year, the business posted $1.00 EPS. Vulcan Materials’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts expect that Vulcan Materials Company will post 9.3 EPS for the current year.

Vulcan Materials Dividend Announcement

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

Analyst Upgrades and Downgrades

VMC has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their target price on Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Oppenheimer assumed coverage on Vulcan Materials in a report on Thursday, May 28th. They set a “market perform” rating for the company. Morgan Stanley decreased their price objective on shares of Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Finally, Stifel Nicolaus set a $333.00 target price on shares of Vulcan Materials in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $327.79.

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.