Oppenheimer Asset Management Inc. Purchases 494 Shares of Vulcan Materials (NYSE:VMC)

Oppenheimer Asset Management Inc. increased its position in shares of Vulcan Materials (NYSE:VMC) by 9.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,485 shares of the construction company’s stock after buying an additional 494 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Vulcan Materials were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in Vulcan Materials during the first quarter valued at about $27,000. SouthState Corp boosted its stake in Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares during the period. Kings Path Partners LLC acquired a new stake in Vulcan Materials in the 2nd quarter valued at approximately $27,000. Opal Wealth Advisors LLC bought a new position in Vulcan Materials in the 1st quarter worth approximately $33,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Vulcan Materials during the first quarter worth approximately $34,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Stock Down 0.3 %

Shares of NYSE:VMC opened at $244.40 on Thursday. Vulcan Materials has a 52 week low of $190.51 and a 52 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. The company’s fifty day moving average is $248.41 and its 200-day moving average is $255.75. The company has a market capitalization of $32.32 billion, a PE ratio of 35.68, a P/E/G ratio of 2.25 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last announced its earnings results 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 analyst estimates of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.29 EPS. Equities research analysts predict that Vulcan Materials will post 7.73 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.75%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Citigroup dropped their price objective on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Stephens reduced their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Loop Capital cut their price target on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Truist Financial reduced their price objective on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus target price 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.