OLD National Bancorp IN Acquires Shares of 829 Vulcan Materials (NYSE:VMC)

OLD National Bancorp IN acquired a new stake in Vulcan Materials (NYSE:VMC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 829 shares of the construction company’s stock, valued at approximately $208,000.

A number of other large investors have also recently made changes to their positions in VMC. Ballentine Partners LLC bought a new position in shares of Vulcan Materials in the first quarter valued at $225,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Vulcan Materials by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,044 shares of the construction company’s stock valued at $1,923,000 after purchasing an additional 193 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Vulcan Materials by 31.7% during the first quarter. Artemis Investment Management LLP now owns 266,647 shares of the construction company’s stock valued at $72,742,000 after purchasing an additional 64,220 shares in the last quarter. Register Financial Advisors LLC bought a new position in shares of Vulcan Materials during the first quarter valued at about $27,000. Finally, Vicus Capital bought a new position in shares of Vulcan Materials during the first quarter valued at about $245,000. 90.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on VMC. Loop Capital dropped their price target 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. Citigroup dropped their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada dropped their price target on shares of 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. StockNews.com lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $272.45.

Vulcan Materials Price Performance

VMC opened at $253.57 on Thursday. The company has a market capitalization of $33.54 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 2.45 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 $245.31 and a 200-day moving average price of $252.17. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $278.79.

Vulcan Materials (NYSE:VMC) last posted its earnings results 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). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. Vulcan Materials’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. Equities analysts expect that Vulcan Materials will post 7.67 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.73%. Vulcan Materials’s payout ratio is 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.