Procyon Advisors LLC Purchases 1,061 Shares of Vulcan Materials (NYSE:VMC)

Procyon Advisors LLC increased its holdings in Vulcan Materials (NYSE:VMC) by 6.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,363 shares of the construction company’s stock after purchasing an additional 1,061 shares during the period. Procyon Advisors LLC’s holdings in Vulcan Materials were worth $4,599,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VMC. Register Financial Advisors LLC acquired a new stake in Vulcan Materials during the 1st quarter valued at $27,000. SouthState Corp lifted its stake in shares of Vulcan Materials by 669.2% in the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares during the period. Kings Path Partners LLC bought a new position in Vulcan Materials during the second quarter worth about $27,000. Opal Wealth Advisors LLC bought a new position in Vulcan Materials during the 1st quarter worth approximately $33,000. Finally, UMB Bank n.a. boosted its position 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 worth $31,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Up 1.5 %

Shares of VMC stock opened at $247.51 on Monday. Vulcan Materials has a 12-month low of $190.51 and a 12-month high of $278.79. The company has a market capitalization of $32.73 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 2.28 and a beta of 0.82. The firm has a 50 day moving average price of $243.67 and a two-hundred day moving average price of $252.83. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.12). The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 earnings per share. As a group, analysts predict that Vulcan Materials will post 7.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.74%. Vulcan Materials’s dividend payout ratio is 26.86%.

Wall Street Analysts Forecast Growth

VMC has been the topic of several recent analyst reports. Stephens reduced their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada dropped their target price 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. Truist Financial reduced their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Citigroup reduced their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and an average target price of $272.45.

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.