1,663 Shares in Vulcan Materials (NYSE:VMC) Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new stake in shares of Vulcan Materials (NYSE:VMC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,663 shares of the construction company’s stock, valued at approximately $414,000.

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

Vulcan Materials Stock Down 0.9 %

Shares of Vulcan Materials stock opened at $249.94 on Wednesday. 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 has a 12-month low of $190.51 and a 12-month high of $278.79. The company has a market cap of $33.01 billion, a P/E ratio of 36.49, a PEG ratio of 2.34 and a beta of 0.82. The company’s fifty day simple moving average is $248.09 and its two-hundred day simple moving average is $255.23.

Vulcan Materials (NYSE:VMC) last released its quarterly 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). Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company earned $2.29 earnings per share. Vulcan Materials’s quarterly revenue was down 4.7% on a year-over-year basis. Research analysts anticipate that Vulcan Materials will post 7.73 EPS for the current year.

Vulcan Materials Dividend Announcement

The company 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 of this dividend was Thursday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.74%. Vulcan Materials’s dividend payout ratio is presently 26.86%.

Analysts Set New Price Targets

VMC has been the subject of several recent analyst reports. Stephens cut their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Citigroup cut their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Loop Capital lowered their price objective on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial dropped 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. Finally, 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. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average 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.