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

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

Other institutional investors have also added to or reduced their stakes in the company. SouthState Corp raised its position in Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after acquiring an additional 87 shares during the period. Kings Path Partners LLC bought a new stake in shares of Vulcan Materials during the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Vulcan Materials during the 3rd quarter valued at $30,000. UMB Bank n.a. raised its position in shares of Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after purchasing an additional 47 shares during the period. Finally, Concord Wealth Partners bought a new stake in shares of Vulcan Materials during the 3rd quarter valued at $35,000. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VMC. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Citigroup decreased their price objective 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. Truist Financial raised their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stephens decreased their price objective 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, UBS Group initiated coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $280.46.

Vulcan Materials Stock Performance

Shares of NYSE:VMC opened at $279.28 on Friday. Vulcan Materials has a 52 week low of $209.39 and a 52 week high of $298.31. The stock has a market capitalization of $36.88 billion, a P/E ratio of 44.05, a PEG ratio of 2.68 and a beta of 0.81. The firm has a fifty day simple moving average of $256.67 and a two-hundred day simple moving average of $254.09. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The business’s quarterly revenue was down 8.3% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.66%. Vulcan Materials’s payout ratio is currently 29.02%.

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.