John Armitage's Egerton Capital increased its position in construction aggregates producer Vulcan Materials (VMC) by 11.44% during the second quarter of 2026. The trade, disclosed in a delayed 13F filing from July 21, 2026, shows the firm's holding grew from 1.77 million to 1.97 million shares, valued at approximately $581.67 million as of June 30.
This portfolio adjustment occurred before Vulcan reported its second-quarter earnings in late July, where it slightly beat analyst expectations. The company noted healthy public construction activity and maintained its full-year earnings outlook, citing continued pricing power in its core aggregates business. Egerton's move reflects a significant vote of confidence in the materials supplier.