Vulcan Materials (NYSE:VMC) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its stake in Vulcan Materials (NYSE:VMC) by 70.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,066 shares of the construction company’s stock after purchasing an additional 2,086 shares during the quarter. Public Sector Pension Investment Board’s holdings in Vulcan Materials were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VMC. J. W. Coons Advisors LLC increased its stake in Vulcan Materials by 60.6% in the 4th quarter. J. W. Coons Advisors LLC now owns 2,385 shares of the construction company’s stock worth $541,000 after purchasing an additional 900 shares in the last quarter. TFO Wealth Partners LLC boosted its position in Vulcan Materials by 318.5% during the 4th quarter. TFO Wealth Partners LLC now owns 678 shares of the construction company’s stock worth $154,000 after acquiring an additional 516 shares during the period. Bank of Nova Scotia boosted its position in Vulcan Materials by 67.0% during the 4th quarter. Bank of Nova Scotia now owns 21,205 shares of the construction company’s stock worth $4,814,000 after acquiring an additional 8,507 shares during the period. California State Teachers Retirement System boosted its position in Vulcan Materials by 4.2% during the 4th quarter. California State Teachers Retirement System now owns 229,757 shares of the construction company’s stock worth $52,157,000 after acquiring an additional 9,193 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Vulcan Materials by 190.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 270,069 shares of the construction company’s stock worth $61,308,000 after acquiring an additional 177,085 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on VMC. StockNews.com lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Tuesday. Stephens reduced their target price on 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 reduced their target price 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. Truist Financial reduced their target price on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup reduced their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average target price of $274.73.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $247.49 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $247.28 and its two-hundred day moving average is $254.57. The company has a market cap of $32.68 billion, a P/E ratio of 36.13, a P/E/G ratio of 2.32 and a beta of 0.82. Vulcan Materials has a 12 month low of $190.51 and a 12 month high of $278.79.

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

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Thursday, August 15th. Vulcan Materials’s dividend payout ratio is presently 26.86%.

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.