Vulcan Materials (NYSE:VMC) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in Vulcan Materials (NYSE:VMC) by 5.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 250,428 shares of the construction company’s stock after acquiring an additional 13,318 shares during the period. Envestnet Asset Management Inc. owned approximately 0.19% of Vulcan Materials worth $62,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Vulcan Materials by 5.0% during 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Vulcan Materials by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 4,494,455 shares of the construction company’s stock valued at $1,226,627,000 after buying an additional 83,601 shares during the period. Capital World Investors purchased a new stake in shares of Vulcan Materials in the first quarter valued at approximately $388,027,000. Norges Bank acquired a new position in Vulcan Materials during the fourth quarter worth $282,528,000. Finally, Point72 Asset Management L.P. raised its position in Vulcan Materials by 271.0% in the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock worth $186,861,000 after acquiring an additional 601,268 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $244.40 on Thursday. The company has a market capitalization of $32.32 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 2.25 and a beta of 0.82. The stock has a fifty day moving average of $248.41 and a two-hundred day moving average of $255.75. Vulcan Materials has a fifty-two week low of $190.51 and a fifty-two week high of $278.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.66 and a current ratio of 2.48.

Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. On average, analysts anticipate that Vulcan Materials will post 7.73 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. Vulcan Materials’s dividend payout ratio is currently 26.86%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Loop Capital decreased their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Citigroup lowered 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 report on Thursday, August 8th. Stephens reduced their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Truist Financial lowered their price target on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reduced their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $274.73.

Vulcan Materials Profile

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.