Vulcan Materials (NYSE:VMC) Shares Purchased by Quarry LP

Quarry LP boosted its holdings in Vulcan Materials (NYSE:VMC) by 2,203.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 622 shares of the construction company’s stock after buying an additional 595 shares during the period. Quarry LP’s holdings in Vulcan Materials were worth $156,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cetera Advisors LLC raised its holdings in shares of Vulcan Materials by 118.1% during the 1st quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock valued at $1,132,000 after buying an additional 2,245 shares during the period. Raymond James & Associates increased its holdings in Vulcan Materials by 3.0% during the 2nd quarter. Raymond James & Associates now owns 202,539 shares of the construction company’s stock worth $50,367,000 after purchasing an additional 5,979 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Vulcan Materials by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock worth $331,404,000 after purchasing an additional 43,294 shares during the last quarter. Tower Bridge Advisors increased its holdings in Vulcan Materials by 64.5% during the 3rd quarter. Tower Bridge Advisors now owns 4,936 shares of the construction company’s stock worth $1,236,000 after purchasing an additional 1,936 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Vulcan Materials by 5.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 250,428 shares of the construction company’s stock worth $62,276,000 after purchasing an additional 13,318 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays lifted their price objective on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Truist Financial lifted their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group assumed coverage on Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Finally, StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $283.92.

Vulcan Materials Price Performance

Shares of VMC opened at $286.76 on Friday. The company has a market cap of $37.87 billion, a P/E ratio of 45.23, a PEG ratio of 2.76 and a beta of 0.81. The stock has a fifty day moving average price of $268.17 and a 200 day moving average price of $255.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. Vulcan Materials has a 12 month low of $210.85 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly 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). 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 the consensus estimate of $2.01 billion. During the same period in the previous year, the company posted $2.29 EPS. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, research analysts forecast that Vulcan Materials will post 7.16 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.64%. Vulcan Materials’s payout ratio is 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.