Oakworth Capital Inc. Lowers Position in Vulcan Materials (NYSE:VMC)

Oakworth Capital Inc. reduced its stake in Vulcan Materials (NYSE:VMC) by 5.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,998 shares of the construction company’s stock after selling 240 shares during the quarter. Oakworth Capital Inc.’s holdings in Vulcan Materials were worth $1,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VMC. Jade Capital Advisors LLC purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at $1,002,000. Copeland Capital Management LLC purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at $891,000. Everence Capital Management Inc. purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at $381,000. Allspring Global Investments Holdings LLC increased its position in shares of Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after purchasing an additional 330,433 shares during the last quarter. Finally, Compass Ion Advisors LLC increased its position in shares of Vulcan Materials by 3.0% during the 3rd quarter. Compass Ion Advisors LLC now owns 5,940 shares of the construction company’s stock valued at $1,488,000 after purchasing an additional 173 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Citigroup decreased their price objective on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. StockNews.com lowered Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, October 12th. Finally, Loop Capital cut their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and an average target price of $272.45.

Vulcan Materials Stock Performance

Shares of VMC opened at $257.58 on Tuesday. The company has a market cap of $34.07 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $244.89 and a 200-day moving average price of $252.28. Vulcan Materials has a 12-month low of $190.51 and a 12-month high of $278.79.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results 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 for 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 business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 EPS. As a group, equities analysts forecast that Vulcan Materials will post 7.67 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared 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 of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.71%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

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.