PNC Financial Services Group Inc. Purchases 2,051 Shares of Vulcan Materials (NYSE:VMC)

PNC Financial Services Group Inc. increased its holdings in shares of Vulcan Materials (NYSE:VMC) by 4.2% in the third quarter, HoldingsChannel reports. The firm owned 50,537 shares of the construction company’s stock after buying an additional 2,051 shares during the period. PNC Financial Services Group Inc.’s holdings in Vulcan Materials were worth $12,656,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in shares of Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after buying an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after purchasing an additional 330,433 shares during the last quarter. Ceredex Value Advisors LLC boosted its position in Vulcan Materials by 136.3% during the third quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock worth $89,117,000 after purchasing an additional 205,260 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Vulcan Materials by 1,191.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,005 shares of the construction company’s stock valued at $39,541,000 after purchasing an additional 146,695 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Vulcan Materials by 136.1% during the 2nd quarter. AQR Capital Management LLC now owns 184,471 shares of the construction company’s stock worth $45,874,000 after buying an additional 106,324 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $284.61 on Friday. The company has a 50 day moving average of $261.25 and a 200-day moving average of $254.72. The company has a market cap of $37.59 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. Vulcan Materials has a 1-year low of $209.60 and a 1-year high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the business posted $2.29 EPS. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Vulcan Materials will post 7.2 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s dividend payout ratio is presently 29.02%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. UBS Group started coverage on shares of Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target on the stock. Royal Bank of Canada decreased their target price 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. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. dropped their target price on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Stephens decreased their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus price target of $280.46.

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.