Verity Asset Management adds Vulcan Materials Company (VMC) to its portfolio

Vulcan Materials Company (VMC) : Verity Asset Management added new position in Vulcan Materials Company during the most recent quarter end. The investment management firm now holds 6,671 shares of Vulcan Materials Company which is valued at $793,315 , the company said in a statement filed on Aug 12, 2016 with the SEC.Vulcan Materials Company makes up approximately 0.76% of Verity Asset Management’s portfolio.

Other Hedge Funds, Including , Capital Growth Management Lp boosted its stake in VMC in the latest quarter, The investment management firm added 464,000 additional shares and now holds a total of 999,000 shares of Vulcan Materials Company which is valued at $118,801,080. Vulcan Materials Company makes up approx 5.12% of Capital Growth Management Lp’s portfolio.Neuberger Berman Group boosted its stake in VMC in the latest quarter, The investment management firm added 438 additional shares and now holds a total of 2,480 shares of Vulcan Materials Company which is valued at $295,070.Insight Capital Research Management Inc reduced its stake in VMC by selling 31,939 shares or 62.63% in the most recent quarter. The Hedge Fund company now holds 19,058 shares of VMC which is valued at $2,394,828. Vulcan Materials Company makes up approx 0.80% of Insight Capital Research Management Inc’s portfolio. First New York Securities Ny sold out all of its stake in VMC during the most recent quarter. The investment firm sold 923 shares of VMC which is valued $115,984.

Vulcan Materials Company opened for trading at $116 and hit $117.56 on the upside on Monday, eventually ending the session at $116.85, with a gain of 0.66% or 0.77 points. The heightened volatility saw the trading volume jump to 5,75,871 shares. Company has a market cap of $15,549 M.

On the company’s financial health, Vulcan Materials Company reported $0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus of $1.01. The company had revenue of $956.80 million for the quarter, compared to analysts expectations of $1020.57 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on Vulcan Materials Company. Company shares were Reiterated by RBC Capital Mkts on Jul 12, 2016 to “Outperform”, Firm has raised the Price Target to $ 140 from a previous price target of $127 .Alembic Global Advisors Initiated Vulcan Materials Company on Jun 9, 2016 to “Neutral”, Price Target of the shares are set at $125.Company shares were Reiterated by Stifel on May 16, 2016 to “Buy”, Firm has raised the Price Target to $ 131 from a previous price target of $123 .

Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates 335 aggregates facilities. The Company has four segments organized around its principal product lines: Aggregates Concrete Asphalt Mix and Calcium. The Aggregates segment produces and sells aggregates (crushed stone sand and gravel sand and other aggregates) and related products and services (transportation and other). The Company produces and sells ready-mixed concrete in Georgia Maryland New Mexico Texas Virginia Washington D.C. and the Bahamas. The Company produces and sells asphalt mix in Arizona California New Mexico and Texas. The Company’s Calcium segment operates a quarry at Brooksville Florida which provides feedstock for the ground calcium operation.

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