Ashton Thomas Securities LLC Makes New Investment in Vulcan Materials (NYSE:VMC)

Ashton Thomas Securities LLC purchased a new stake in shares of Vulcan Materials (NYSE:VMC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 119 shares of the construction company’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Vulcan Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after purchasing an additional 755,991 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after buying an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Vulcan Materials by 18.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after buying an additional 330,433 shares during the period. Capital World Investors purchased a new stake in Vulcan Materials during the first quarter valued at approximately $388,027,000. Finally, Vontobel Holding Ltd. boosted its stake in shares of Vulcan Materials by 7.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock worth $342,971,000 after acquiring an additional 91,318 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Stock Down 1.8 %

Shares of VMC stock opened at $282.57 on Friday. The company’s fifty day simple moving average is $254.71 and its two-hundred day simple moving average is $253.79. Vulcan Materials has a 52 week low of $209.39 and a 52 week high of $298.31. The stock has a market cap of $37.32 billion, a P/E ratio of 44.57, a PEG ratio of 2.77 and a beta of 0.81. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. Vulcan Materials’s quarterly revenue was down 8.3% on a year-over-year basis. Analysts predict that Vulcan Materials will post 7.2 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio is presently 29.02%.

Analyst Ratings Changes

A number of brokerages recently commented on VMC. Barclays raised their target price on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Truist Financial raised their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stephens reduced their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada decreased their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and an average price target of $280.46.

About Vulcan Materials

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.