United Asset Strategies Inc. Boosts Stake in Vulcan Materials (NYSE:VMC)

United Asset Strategies Inc. raised its holdings in Vulcan Materials (NYSE:VMC) by 1.1% during the third quarter, Holdings Channel.com reports. The firm owned 3,747 shares of the construction company’s stock after purchasing an additional 39 shares during the period. United Asset Strategies Inc.’s holdings in Vulcan Materials were worth $938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SouthState Corp raised its holdings in shares of 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 period. Kings Path Partners LLC purchased a new stake in shares of Vulcan Materials in the 2nd quarter valued at $27,000. UMB Bank n.a. raised its holdings in shares of 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 period. Concord Wealth Partners purchased a new stake in shares of Vulcan Materials in the 3rd quarter valued at $35,000. Finally, Manchester Capital Management LLC raised its holdings in shares of Vulcan Materials by 1,218.2% in the 1st quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock valued at $40,000 after buying an additional 134 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Down 0.8 %

Shares of Vulcan Materials stock opened at $273.94 on Friday. Vulcan Materials has a fifty-two week low of $195.70 and a fifty-two week high of $279.47. The firm has a market cap of $36.18 billion, a PE ratio of 43.21, a P/E/G ratio of 2.60 and a beta of 0.82. The business’s fifty day moving average is $247.39 and its two-hundred day moving average is $252.18. The company has a quick ratio of 1.66, a current ratio of 2.86 and a debt-to-equity ratio of 0.42.

Vulcan Materials (NYSE:VMC) last issued 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). The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period last year, the business posted $2.29 earnings per share. Analysts anticipate that Vulcan Materials will post 7.39 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is presently 29.02%.

Wall Street Analysts Forecast Growth

VMC has been the subject of several analyst reports. StockNews.com cut Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. Barclays upped their price objective on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada reduced their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, Stephens reduced their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $273.50.

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.