Vulcan Materials (NYSE:VMC) Stake Cut by Ascent Group LLC

Ascent Group LLC decreased its holdings in shares of Vulcan Materials (NYSE:VMC) by 0.7% in the 2nd quarter, Holdings Channel reports. The firm owned 6,866 shares of the construction company’s stock after selling 50 shares during the quarter. Ascent Group LLC’s holdings in Vulcan Materials were worth $1,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of VMC. Gilbert & Cook Inc. grew its position in shares of Vulcan Materials by 6.9% during the 4th quarter. Gilbert & Cook Inc. now owns 3,909 shares of the construction company’s stock valued at $887,000 after buying an additional 251 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Vulcan Materials by 4.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,769 shares of the construction company’s stock valued at $3,126,000 after purchasing an additional 549 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Vulcan Materials by 26.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,378 shares of the construction company’s stock worth $1,221,000 after purchasing an additional 1,111 shares during the period. Stifel Financial Corp lifted its holdings in shares of Vulcan Materials by 1.3% in the 4th quarter. Stifel Financial Corp now owns 111,673 shares of the construction company’s stock worth $25,352,000 after purchasing an additional 1,381 shares during the last quarter. Finally, J. W. Coons Advisors LLC boosted its position in Vulcan Materials by 60.6% during the 4th quarter. J. W. Coons Advisors LLC now owns 2,385 shares of the construction company’s stock valued at $541,000 after purchasing an additional 900 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

VMC opened at $250.24 on Monday. The business has a 50 day moving average price of $247.74 and a two-hundred day moving average price of $254.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. The company has a market capitalization of $33.09 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 2.32 and a beta of 0.82. Vulcan Materials has a 1-year low of $190.51 and a 1-year high of $278.79.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 earnings per share 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 firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company earned $2.29 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Research analysts predict that Vulcan Materials will post 7.73 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders 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 annualized dividend and a dividend yield of 0.74%. Vulcan Materials’s dividend payout ratio (DPR) is 26.86%.

Analysts Set New Price Targets

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

About Vulcan Materials

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.