Independence Bank of Kentucky Has $68,000 Stock Position in Vulcan Materials (NYSE:VMC)

Independence Bank of Kentucky lifted its stake in shares of Vulcan Materials (NYSE:VMC) by 1,000.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 275 shares of the construction company’s stock after purchasing an additional 250 shares during the quarter. Independence Bank of Kentucky’s holdings in Vulcan Materials were worth $68,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Silvant Capital Management LLC increased its holdings in Vulcan Materials by 10.9% in the second quarter. Silvant Capital Management LLC now owns 105,971 shares of the construction company’s stock valued at $26,353,000 after purchasing an additional 10,421 shares during the period. Quotient Wealth Partners LLC increased its stake in shares of Vulcan Materials by 108.3% in the second quarter. Quotient Wealth Partners LLC now owns 2,571 shares of the construction company’s stock valued at $639,000 after buying an additional 1,337 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of Vulcan Materials during the second quarter worth about $309,000. Pallas Capital Advisors LLC acquired a new position in shares of Vulcan Materials in the second quarter worth approximately $296,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Vulcan Materials by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 23,282 shares of the construction company’s stock valued at $5,790,000 after acquiring an additional 110 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 1,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $249.50, for a total transaction of $249,500.00. Following the completion of the transaction, the senior vice president now directly owns 1,660 shares of the company’s stock, valued at approximately $414,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

VMC has been the subject of several analyst reports. Stephens lowered their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Truist Financial dropped their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Loop Capital decreased their price target on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Royal Bank of Canada dropped their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, 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. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $274.73.

Vulcan Materials Stock Performance

Shares of VMC stock traded up $6.91 during trading on Friday, hitting $254.89. The company’s stock had a trading volume of 1,252,331 shares, compared to its average volume of 1,005,313. The business has a fifty day moving average of $251.41 and a 200-day moving average of $257.33. The company has a market cap of $33.66 billion, a PE ratio of 37.21, a P/E/G ratio of 2.25 and a beta of 0.82. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $278.79. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. As a group, research analysts anticipate that Vulcan Materials will post 7.9 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.72%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

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.