Kayne Anderson Rudnick Investment Management LLC Buys 45,085 Shares of Vulcan Materials (NYSE:VMC)

Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Vulcan Materials (NYSE:VMC) by 1,246.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,701 shares of the construction company’s stock after acquiring an additional 45,085 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Vulcan Materials were worth $12,111,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Contravisory Investment Management Inc. lifted its holdings in Vulcan Materials by 1.6% during the 1st quarter. Contravisory Investment Management Inc. now owns 2,579 shares of the construction company’s stock valued at $704,000 after buying an additional 40 shares in the last quarter. Commerce Bank lifted its holdings in Vulcan Materials by 1.0% during the 4th quarter. Commerce Bank now owns 4,442 shares of the construction company’s stock valued at $1,008,000 after buying an additional 43 shares in the last quarter. UMB Bank n.a. lifted its holdings in Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after buying an additional 47 shares in the last quarter. Monetary Management Group Inc. lifted its holdings in Vulcan Materials by 2.3% during the 2nd quarter. Monetary Management Group Inc. now owns 2,250 shares of the construction company’s stock valued at $560,000 after buying an additional 50 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Vulcan Materials by 13.6% during the 1st quarter. Covestor Ltd now owns 425 shares of the construction company’s stock valued at $116,000 after buying an additional 51 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Down 0.6 %

NYSE:VMC opened at $252.05 on Monday. The company has a market cap of $33.33 billion, a PE ratio of 36.80, a P/E/G ratio of 2.25 and a beta of 0.82. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $278.79. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $248.39 and its two-hundred day moving average is $255.48.

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

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders 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 yield of 0.73%. The ex-dividend date was Thursday, August 15th. Vulcan Materials’s dividend payout ratio is presently 26.86%.

Wall Street Analysts Forecast Growth

VMC has been the subject of a number of research analyst reports. Truist Financial decreased their price objective 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. Loop Capital reduced their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Citigroup reduced their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Stephens reduced their price target 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. Finally, Royal Bank of Canada reduced their price target 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. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.73.

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.