Commerce Bank Purchases 482 Shares of Vulcan Materials (NYSE:VMC)

Commerce Bank grew its position in Vulcan Materials (NYSE:VMC) by 10.2% in the third quarter, Holdings Channel.com reports. The fund owned 5,221 shares of the construction company’s stock after buying an additional 482 shares during the period. Commerce Bank’s holdings in Vulcan Materials were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. SouthState Corp boosted 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 in the last quarter. Kings Path Partners LLC acquired a new stake in shares of Vulcan Materials in the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Vulcan Materials in the 3rd quarter worth about $30,000. UMB Bank n.a. increased 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 worth $31,000 after purchasing an additional 47 shares in the last quarter. Finally, Concord Wealth Partners bought a new position in Vulcan Materials during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of VMC opened at $284.61 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The firm has a market capitalization of $37.59 billion, a PE ratio of 44.89, a P/E/G ratio of 2.75 and a beta of 0.81. The stock has a 50 day simple moving average of $261.25 and a 200 day simple moving average of $254.53. Vulcan Materials has a 52-week low of $209.60 and a 52-week high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.12). The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 EPS. Sell-side analysts predict that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.65%. Vulcan Materials’s dividend payout ratio (DPR) is 29.02%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. UBS Group initiated coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 target price on the stock. Stephens dropped their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reduced 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. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.46.

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.