Advisors Asset Management Inc. Decreases Stake in Vulcan Materials (NYSE:VMC)

Advisors Asset Management Inc. cut its stake in Vulcan Materials (NYSE:VMC) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,492 shares of the construction company’s stock after selling 2,278 shares during the quarter. Advisors Asset Management Inc.’s holdings in Vulcan Materials were worth $8,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VMC. SouthState Corp increased its position in shares of Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after purchasing an additional 87 shares during the last quarter. Kings Path Partners LLC acquired a new position in Vulcan Materials in the 2nd quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Vulcan Materials in the 3rd quarter valued at about $30,000. UMB Bank n.a. boosted its stake 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. Finally, Concord Wealth Partners purchased a new position in shares of Vulcan Materials in the 3rd quarter valued at about $35,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VMC has been the subject of several recent analyst reports. Citigroup decreased their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Stephens dropped their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Truist Financial boosted their target price on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $280.46.

Vulcan Materials Stock Performance

NYSE VMC opened at $277.81 on Thursday. The company has a market capitalization of $36.69 billion, a PE ratio of 43.82, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $259.41 and its 200 day moving average price is $254.41. Vulcan Materials has a twelve month low of $209.60 and a twelve month high of $298.31.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). The firm 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. On average, research analysts predict that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.46 per share. The ex-dividend date is Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.66%. Vulcan Materials’s dividend payout ratio is presently 29.02%.

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.