First Horizon Advisors Inc. Sells 334 Shares of Vulcan Materials (NYSE:VMC)

First Horizon Advisors Inc. lowered its position in shares of Vulcan Materials (NYSE:VMC) by 27.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 894 shares of the construction company’s stock after selling 334 shares during the quarter. First Horizon Advisors Inc.’s holdings in Vulcan Materials were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VMC. Principal Financial Group Inc. lifted its holdings in Vulcan Materials by 19.9% during the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after acquiring an additional 884,580 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after purchasing an additional 330,433 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Vulcan Materials by 7.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock worth $342,971,000 after purchasing an additional 91,318 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Vulcan Materials by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock worth $331,404,000 after buying an additional 43,294 shares during the last quarter. Finally, XN LP boosted its holdings in shares of Vulcan Materials by 21.6% in the 2nd quarter. XN LP now owns 519,647 shares of the construction company’s stock worth $129,226,000 after buying an additional 92,388 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VMC. Truist Financial raised their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup lowered their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. UBS Group initiated coverage on Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective for the company. Royal Bank of Canada dropped their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Five 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 stock has a consensus rating of “Moderate Buy” and an average price target of $280.46.

Vulcan Materials Trading Up 1.2 %

Shares of Vulcan Materials stock opened at $284.61 on Friday. The company’s 50-day moving average price is $261.25 and its 200-day moving average price is $254.72. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. Vulcan Materials has a 12-month low of $209.60 and a 12-month high of $298.31. The company has a market cap of $37.59 billion, a price-to-earnings ratio of 44.89, a PEG ratio of 2.67 and a beta of 0.81.

Vulcan Materials (NYSE:VMC) last posted its earnings results 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). 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 business’s revenue for the quarter 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, equities analysts expect that Vulcan Materials will post 7.2 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s payout ratio is 29.02%.

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.