The construction industry has seen a lot of activity, especially with the recent announcement that CI Investments Inc. increased its stake in Vulcan Materials by 546.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor now owns $191,000 worth of the company’s shares after acquiring an additional 924 shares during the period.
Vulcan Materials is a major player in the construction industry and is known for providing asphalt mixtures and concrete for many types of infrastructure projects including highways, bridges, airports, and parking lots. With such an investment increase from CI Investments Inc., there’s no doubt that Vulcan Materials will see even more growth opportunities in the coming years.
Meanwhile, SVP David P. Clement shed some shares as he sold 2,389 of Vulcan Material’s stock on Thursday May 11th at an average price of $196.00 per share resulting in a total transaction of $468,244.00 which he disclosed via legal filing with the Securities & Exchange Commission and can be accessed through SEC website.
While insiders own only a small percentage (0.62%) of Vulcan Material’s stock, it is still a good sign for investors to see them investing their own money into the company they work for.
As for Vulcan Material’s position as a company listed on NYSE (VMC), it opened at $194.10 on Thursday with a fifty day moving average of $176.94 and two-hundred day moving average of $178.61 along with a market capitalization of $25.83 billion and P/E ratio of 42.94 alongwith EPS growth rate i.e price-to-earnings-growth ratio being around 1.47 and beta calculated at 0.74 showing good promise for investors interested in buying into this corporate giant.
It should be noted that Vulcan Materials’ investments focus heavily on infrastructure projects, meaning the company stands to gain notably from any big federal spending programs designed to improve roads, bridges, and other public works – making Vulcan Materials a solid choice for those looking to invest in construction companies that focus on US infrastructural development.
Institutional Investors Increase Holdings in Vulcan Materials Due to Positive Earnings and Ratings
Construction and materials giant Vulcan Materials is seeing large investment changes from institutional investors, according to recent reports. Several hedge funds and institutional investors have either boosted their existing holdings or taken up new positions in the company, including New Hampshire Trust, FDx Advisors Inc., Financial Partners Group LLC, Moors & Cabot Inc. and abrdn plc. In addition, several research firms have given Vulcan Materials “Moderate Buy” ratings, with Goldman Sachs predicting a target price of $212. The construction firm recently reported earnings of $0.95 per share for Q1 2017 on revenue of $1.65bn.
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