Vulcan Materials (NYSE:VMC) Stake Lessened by Profund Advisors LLC

Profund Advisors LLC reduced its stake in shares of Vulcan Materials (NYSE:VMC) by 5.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,327 shares of the construction company’s stock after selling 203 shares during the quarter. Profund Advisors LLC’s holdings in Vulcan Materials were worth $827,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SouthState Corp increased its holdings in Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after buying an additional 87 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Vulcan Materials in the 1st quarter worth approximately $27,000. Kings Path Partners LLC bought a new stake in shares of Vulcan Materials in the 2nd quarter valued at approximately $27,000. UMB Bank n.a. raised its position in shares of 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 acquiring an additional 47 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in Vulcan Materials during the first quarter worth $33,000. Institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

VMC has been the subject of several recent research reports. Loop Capital lowered their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Royal Bank of Canada dropped 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. Truist Financial decreased their target price on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Citigroup dropped their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Stephens reduced their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and an average price target of $274.73.

Vulcan Materials Stock Performance

Shares of VMC opened at $249.94 on Wednesday. The firm has a market capitalization of $33.01 billion, a PE ratio of 36.49, a P/E/G ratio of 2.34 and a beta of 0.82. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $248.09 and a 200 day moving average price of $255.23. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $278.79.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 earnings per share (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 company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business earned $2.29 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Vulcan Materials will post 7.73 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, August 15th. Vulcan Materials’s dividend payout ratio is presently 26.86%.

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.