Axxcess Wealth Management LLC Buys 1,340 Shares of Vulcan Materials (NYSE:VMC)

Axxcess Wealth Management LLC boosted its stake in Vulcan Materials (NYSE:VMC) by 44.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,325 shares of the construction company’s stock after acquiring an additional 1,340 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Vulcan Materials were worth $1,083,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in VMC. SouthState Corp increased its stake in Vulcan Materials by 669.2% in the 2nd 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. Kings Path Partners LLC acquired a new stake in Vulcan Materials in the 2nd quarter valued at $27,000. UMB Bank n.a. increased its stake in Vulcan Materials by 61.8% in 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 during the last quarter. Concord Wealth Partners acquired a new stake in Vulcan Materials in the 3rd quarter valued at $35,000. Finally, Washington Trust Advisors Inc. increased its stake in Vulcan Materials by 240.4% in the 3rd quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock valued at $40,000 after buying an additional 113 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VMC has been the topic of several recent research reports. Barclays lifted their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Royal Bank of Canada lowered 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. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Truist Financial boosted their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, UBS Group began coverage on shares of Vulcan Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $280.46.

Vulcan Materials Stock Down 1.3 %

Shares of VMC opened at $288.38 on Wednesday. Vulcan Materials has a 52 week low of $209.39 and a 52 week high of $298.31. The firm has a market cap of $38.08 billion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 2.81 and a beta of 0.81. The firm’s 50-day simple moving average is $252.67 and its 200 day simple moving average is $253.36. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the company posted $2.29 EPS. On average, analysts forecast that Vulcan Materials will post 7.2 earnings per share 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 issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.64%. Vulcan Materials’s dividend payout ratio is presently 29.02%.

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.