Janney Montgomery Scott LLC Raises Stock Holdings in Vulcan Materials (NYSE:VMC)

Janney Montgomery Scott LLC increased its stake in Vulcan Materials (NYSE:VMC) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,087 shares of the construction company’s stock after purchasing an additional 1,373 shares during the period. Janney Montgomery Scott LLC’s holdings in Vulcan Materials were worth $13,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VMC. SouthState Corp increased its holdings in shares of Vulcan Materials by 669.2% in the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after buying an additional 87 shares during the last quarter. Kings Path Partners LLC purchased a new position in Vulcan Materials in the second quarter worth $27,000. UMB Bank n.a. increased its stake in Vulcan Materials by 61.8% in the second 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. Concord Wealth Partners purchased a new stake in Vulcan Materials during the third quarter valued at about $35,000. Finally, Manchester Capital Management LLC lifted its stake in Vulcan Materials by 1,218.2% during the first quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock worth $40,000 after purchasing an additional 134 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VMC shares. Royal Bank of Canada reduced their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Citigroup decreased their price target 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. Barclays upped their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reduced their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $274.75.

Vulcan Materials Price Performance

Shares of VMC stock opened at $290.44 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. Vulcan Materials has a fifty-two week low of $206.11 and a fifty-two week high of $298.31. The firm has a market cap of $38.36 billion, a P/E ratio of 45.81, a P/E/G ratio of 2.58 and a beta of 0.81. The business’s 50 day moving average price is $249.81 and its 200-day moving average price is $252.67.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm earned $2.29 EPS. The business’s revenue was down 8.3% on a year-over-year basis. On average, equities research analysts anticipate that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s payout ratio is currently 29.02%.

Vulcan Materials Company 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.