Kentucky Retirement Systems Sells 766 Shares of Vulcan Materials (NYSE:VMC)

Kentucky Retirement Systems lowered its position in shares of Vulcan Materials (NYSE:VMC) by 7.7% during the third quarter, HoldingsChannel reports. The fund owned 9,200 shares of the construction company’s stock after selling 766 shares during the quarter. Kentucky Retirement Systems’ holdings in Vulcan Materials were worth $2,304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. SouthState Corp lifted its holdings in shares of Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after purchasing an additional 87 shares during the period. Kings Path Partners LLC bought a new position in Vulcan Materials during the second quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in Vulcan Materials in the third quarter valued at $30,000. UMB Bank n.a. grew its holdings in 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 acquiring an additional 47 shares during the period. Finally, Concord Wealth Partners acquired a new stake in Vulcan Materials during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Down 1.2 %

NYSE:VMC opened at $279.28 on Monday. The firm has a 50-day simple moving average of $256.67 and a two-hundred day simple moving average of $254.05. The firm has a market cap of $36.88 billion, a P/E ratio of 44.05, a P/E/G ratio of 2.68 and a beta of 0.81. Vulcan Materials has a fifty-two week low of $209.39 and a fifty-two week high of $298.31. 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 released 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). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the company posted $2.29 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. Analysts predict that Vulcan Materials will post 7.2 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

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 dividend of $0.46 per share. The ex-dividend date is Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.66%. Vulcan Materials’s payout ratio is 29.02%.

Wall Street Analyst Weigh In

VMC has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target 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. Barclays raised their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. UBS Group started coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 target price on the stock. Truist Financial increased their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $280.46.

Vulcan Materials Company 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.