iA Global Asset Management Inc. Purchases 2,659 Shares of Vulcan Materials (NYSE:VMC)

iA Global Asset Management Inc. raised its position in Vulcan Materials (NYSE:VMC) by 10.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,079 shares of the construction company’s stock after purchasing an additional 2,659 shares during the quarter. iA Global Asset Management Inc.’s holdings in Vulcan Materials were worth $7,231,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Register Financial Advisors LLC bought a new position in Vulcan Materials in the first quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Vulcan Materials in the first quarter valued at about $33,000. YHB Investment Advisors Inc. acquired a new stake in shares of Vulcan Materials in the first quarter valued at about $34,000. UMB Bank n.a. increased its stake in shares of Vulcan Materials by 61.8% in the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after buying an additional 47 shares during the period. Finally, Concord Wealth Partners acquired a new stake in shares of Vulcan Materials in the first quarter valued at about $34,000. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $245.25 on Friday. The business’s fifty day simple moving average is $250.49 and its 200 day simple moving average is $257.30. The firm has a market capitalization of $32.43 billion, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 2.28 and a beta of 0.82. Vulcan Materials has a 12 month low of $190.51 and a 12 month high of $278.79. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43.

Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the business earned $2.29 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, analysts anticipate that Vulcan Materials will post 7.9 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, August 15th. Vulcan Materials’s payout ratio is 26.86%.

Insider Buying and Selling

In related news, SVP David P. Clement sold 1,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $249.50, for a total transaction of $249,500.00. Following the completion of the transaction, the senior vice president now directly owns 1,660 shares in the company, valued at $414,170. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Loop Capital decreased their price target on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Truist Financial decreased their target price on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Citigroup decreased their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada decreased their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, Stephens decreased their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $274.73.

Vulcan Materials Company Profile

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.