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

Advisors Asset Management Inc. trimmed its position in shares of Vulcan Materials (NYSE:VMC) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. 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 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. SouthState Corp increased its holdings in shares of Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after acquiring an additional 87 shares in the last quarter. Kings Path Partners LLC acquired a new position in shares of Vulcan Materials during the second quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Vulcan Materials during the third quarter valued at about $30,000. UMB Bank n.a. increased its holdings in shares of Vulcan Materials by 61.8% during the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after acquiring an additional 47 shares in the last quarter. Finally, Concord Wealth Partners acquired a new position in shares of Vulcan Materials during the third quarter valued at about $35,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Trading Down 0.1 %

Shares of NYSE:VMC opened at $277.81 on Thursday. Vulcan Materials has a 1 year low of $209.60 and a 1 year high of $298.31. The firm has a market capitalization of $36.69 billion, a price-to-earnings ratio of 43.82, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. The business’s 50 day moving average price is $259.41 and its 200-day moving average price is $254.41.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business earned $2.29 EPS. The company’s quarterly revenue was down 8.3% on a year-over-year basis. On average, equities research analysts forecast that Vulcan Materials will post 7.2 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.66%. Vulcan Materials’s dividend payout ratio (DPR) is 29.02%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VMC shares. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Truist Financial increased their price target 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. Royal Bank of Canada cut their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Stephens cut their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup cut 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. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $280.46.

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.