Vulcan Materials (NYSE:VMC) Shares Acquired by Ascent Group LLC

Ascent Group LLC lifted its position in shares of Vulcan Materials (NYSE:VMC) by 63.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,200 shares of the construction company’s stock after purchasing an additional 4,334 shares during the quarter. Ascent Group LLC’s holdings in Vulcan Materials were worth $2,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VMC. SouthState Corp grew its stake in Vulcan Materials by 669.2% in the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after acquiring an additional 87 shares during the period. Kings Path Partners LLC acquired a new position in shares of Vulcan Materials during the 2nd quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Vulcan Materials during the 3rd quarter valued at about $30,000. UMB Bank n.a. boosted its position in shares of Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after acquiring an additional 47 shares during the last quarter. Finally, Concord Wealth Partners acquired a new position in shares of Vulcan Materials during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of VMC opened at $287.08 on Tuesday. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The firm has a market cap of $37.91 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 2.79 and a beta of 0.81. The company’s 50 day simple moving average is $265.98 and its 200-day simple moving average is $255.35. Vulcan Materials has a 12-month low of $210.85 and a 12-month high of $298.31.

Vulcan Materials (NYSE:VMC) last announced its 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 business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business posted $2.29 earnings per share. The business’s revenue was down 8.3% on a year-over-year basis. As a group, equities analysts predict that Vulcan Materials will post 7.16 EPS for the current year.

Vulcan Materials Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on VMC. Stephens decreased their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. UBS Group assumed coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 price target on the stock. Royal Bank of Canada cut 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. Citigroup cut their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Truist Financial upped their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.