Oakworth Capital Inc. Decreases Stake in Vulcan Materials (NYSE:VMC)

Oakworth Capital Inc. reduced its stake in Vulcan Materials (NYSE:VMC) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,998 shares of the construction company’s stock after selling 240 shares during the period. Oakworth Capital Inc.’s holdings in Vulcan Materials were worth $1,001,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of VMC. Capital World Investors purchased a new position in Vulcan Materials in the 1st quarter worth approximately $388,027,000. Vanguard Group Inc. increased its stake in Vulcan Materials by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after purchasing an additional 755,991 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Vulcan Materials by 18.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after purchasing an additional 330,433 shares during the period. Nordea Investment Management AB increased its stake in Vulcan Materials by 621.1% in the 1st quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after purchasing an additional 203,166 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Vulcan Materials by 1,191.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,005 shares of the construction company’s stock worth $39,541,000 after purchasing an additional 146,695 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Trading Down 0.9 %

NYSE VMC opened at $257.58 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $278.79. The firm has a market capitalization of $34.07 billion, a PE ratio of 37.95, a P/E/G ratio of 2.45 and a beta of 0.82. The stock’s 50 day moving average is $244.89 and its 200 day moving average is $252.28.

Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $2.29 earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year. Research analysts forecast that Vulcan Materials will post 7.67 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is 26.86%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VMC. Royal Bank of Canada reduced their target price on 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. Stephens reduced their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Citigroup reduced their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Truist Financial reduced their target price on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Loop Capital reduced their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.45.

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.