SteelPeak Wealth LLC Has $533,000 Stake in Vulcan Materials (NYSE:VMC)

SteelPeak Wealth LLC trimmed its holdings in Vulcan Materials (NYSE:VMC) by 77.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,128 shares of the construction company’s stock after selling 7,442 shares during the period. SteelPeak Wealth LLC’s holdings in Vulcan Materials were worth $533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VMC. Capital World Investors acquired a new stake in shares of Vulcan Materials in the first quarter valued at approximately $388,027,000. Vanguard Group Inc. increased its holdings in shares of Vulcan Materials by 5.0% during the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after buying an additional 755,991 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Vulcan Materials by 18.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after buying an additional 330,433 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Vulcan Materials by 621.1% during the first quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after buying an additional 203,166 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Vulcan Materials by 1,191.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,005 shares of the construction company’s stock worth $39,541,000 after buying an additional 146,695 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VMC has been the subject of several research analyst reports. Citigroup lowered their price target 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. StockNews.com cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. Royal Bank of Canada reduced their price objective on shares of 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. Truist Financial reduced their price objective on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Stephens reduced their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $273.50.

Vulcan Materials Trading Down 0.8 %

NYSE:VMC opened at $273.94 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 2.86. The firm has a market cap of $36.18 billion, a price-to-earnings ratio of 43.21, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82. Vulcan Materials has a 52 week low of $195.70 and a 52 week high of $279.47. The firm has a 50-day moving average price of $247.39 and a two-hundred day moving average price of $252.18.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. On average, equities analysts expect that Vulcan Materials will post 7.39 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The business 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. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio is currently 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.