Greenwood Capital Associates LLC Sells 56 Shares of Vulcan Materials (NYSE:VMC)

Greenwood Capital Associates LLC reduced its stake in shares of Vulcan Materials (NYSE:VMC) by 5.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,015 shares of the construction company’s stock after selling 56 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Vulcan Materials were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of VMC. SouthState Corp grew its position 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 acquiring an additional 87 shares during the period. Kings Path Partners LLC bought a new position in Vulcan Materials in the 2nd quarter worth approximately $27,000. UMB Bank n.a. lifted its stake in shares of Vulcan Materials by 61.8% during the second 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 during the period. Concord Wealth Partners bought a new position in shares of Vulcan Materials in the 3rd quarter valued at about $35,000. Finally, Manchester Capital Management LLC grew its stake in shares of Vulcan Materials by 1,218.2% during the first quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock worth $40,000 after purchasing an additional 134 shares during the period. Institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VMC shares. Barclays lifted their target price on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Stephens lowered their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada cut their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.75.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $272.67 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The stock has a market cap of $36.01 billion, a P/E ratio of 43.01, a P/E/G ratio of 2.58 and a beta of 0.81. The company’s 50 day moving average price is $248.71 and its two-hundred day moving average price is $252.40. Vulcan Materials has a 52 week low of $206.11 and a 52 week high of $279.47.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the business earned $2.29 EPS. Vulcan Materials’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, equities analysts predict that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed 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. This represents a $1.84 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s payout ratio is 29.02%.

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.