Point72 Hong Kong Ltd Makes New $1.29 Million Investment in Vulcan Materials (NYSE:VMC)

Point72 Hong Kong Ltd purchased a new stake in shares of Vulcan Materials (NYSE:VMC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,164 shares of the construction company’s stock, valued at approximately $1,293,000.

Other hedge funds have also modified their holdings of the company. SouthState Corp boosted its position in Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after buying an additional 87 shares during the last quarter. Kings Path Partners LLC purchased a new stake in shares of Vulcan Materials in the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Vulcan Materials in the third quarter worth $30,000. UMB Bank n.a. raised its holdings in shares of Vulcan Materials by 61.8% during the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after purchasing an additional 47 shares during the last quarter. Finally, Concord Wealth Partners acquired a new position in Vulcan Materials during the third quarter valued at $35,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Trading Up 0.6 %

VMC stock opened at $288.13 on Monday. The business’s 50-day moving average is $265.28 and its 200 day moving average is $255.16. Vulcan Materials has a 12-month low of $209.60 and a 12-month high of $298.31. The stock has a market cap of $38.05 billion, a price-to-earnings ratio of 45.45, a PEG ratio of 2.79 and a beta of 0.81. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (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 analyst estimates of $2.01 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The business’s revenue was down 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, November 4th. Vulcan Materials’s payout ratio is 29.02%.

Analyst Ratings Changes

VMC has been the topic of several analyst reports. Truist Financial increased their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stephens reduced their price target on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. UBS Group initiated coverage on Vulcan Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price objective on the stock. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $283.92.

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.