Tower Bridge Advisors Purchases 1,936 Shares of Vulcan Materials (NYSE:VMC)

Tower Bridge Advisors lifted its position in Vulcan Materials (NYSE:VMC) by 64.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,936 shares of the construction company’s stock after acquiring an additional 1,936 shares during the quarter. Tower Bridge Advisors’ holdings in Vulcan Materials were worth $1,236,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VMC. United Asset Strategies Inc. grew its position in shares of Vulcan Materials by 1.1% in the 3rd quarter. United Asset Strategies Inc. now owns 3,747 shares of the construction company’s stock worth $938,000 after buying an additional 39 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Vulcan Materials by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,987 shares of the construction company’s stock worth $498,000 after buying an additional 44 shares during the last quarter. Marcum Wealth LLC grew its position in shares of Vulcan Materials by 5.7% in the 3rd quarter. Marcum Wealth LLC now owns 854 shares of the construction company’s stock worth $214,000 after buying an additional 46 shares during the last quarter. UMB Bank n.a. grew its position 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 worth $31,000 after buying an additional 47 shares during the last quarter. Finally, Golden State Equity Partners grew its position in shares of Vulcan Materials by 4.5% in the 3rd quarter. Golden State Equity Partners now owns 1,099 shares of the construction company’s stock worth $275,000 after buying an additional 47 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

NYSE:VMC opened at $279.28 on Friday. 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 company has a fifty day moving average of $256.67 and a two-hundred day moving average of $254.09. The stock has a market capitalization of $36.88 billion, a PE 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.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The business’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. As a group, research analysts forecast that Vulcan Materials will post 7.2 earnings per share for the current fiscal 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 dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio is presently 29.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VMC shares. UBS Group started coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price objective on the stock. Citigroup dropped their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Stephens dropped their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial boosted their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.