Truist Financial Corp Trims Stock Position in Vulcan Materials (NYSE:VMC)

Truist Financial Corp cut its stake in shares of Vulcan Materials (NYSE:VMC) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,161 shares of the construction company’s stock after selling 442 shares during the quarter. Truist Financial Corp’s holdings in Vulcan Materials were worth $2,527,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cetera Advisors LLC boosted its stake in Vulcan Materials by 118.1% in the 1st quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock worth $1,132,000 after purchasing an additional 2,245 shares during the period. Nordea Investment Management AB boosted its stake in Vulcan Materials by 621.1% in the 1st quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after purchasing an additional 203,166 shares during the period. Mather Group LLC. boosted its stake in Vulcan Materials by 16.1% in the 2nd quarter. Mather Group LLC. now owns 491 shares of the construction company’s stock worth $134,000 after purchasing an additional 68 shares during the period. Raymond James & Associates boosted its position in shares of Vulcan Materials by 3.0% during the 2nd quarter. Raymond James & Associates now owns 202,539 shares of the construction company’s stock valued at $50,367,000 after acquiring an additional 5,979 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in shares of Vulcan Materials by 150.1% in the first quarter. Avantax Advisory Services Inc. now owns 4,006 shares of the construction company’s stock valued at $1,093,000 after purchasing an additional 2,404 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Up 0.9 %

NYSE:VMC opened at $243.85 on Friday. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $278.79. The company has a market cap of $32.25 billion, a price-to-earnings ratio of 35.60, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. The stock has a fifty day simple moving average of $244.59 and a 200-day simple moving average of $253.35. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 earnings per share 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 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 was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 earnings per share. Analysts anticipate that Vulcan Materials will post 7.73 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on VMC shares. Stephens cut 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. JPMorgan Chase & Co. cut their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a report on Wednesday. Truist Financial cut their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. 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 for the company in a report on Wednesday, August 7th. Finally, Loop Capital lowered their price target on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $272.45.

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.