GoalVest Advisory LLC Takes Position in Vulcan Materials (NYSE:VMC)

GoalVest Advisory LLC acquired a new stake in Vulcan Materials (NYSE:VMC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 501 shares of the construction company’s stock, valued at approximately $125,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Vulcan Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after acquiring an additional 755,991 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after acquiring an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Vulcan Materials by 18.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after acquiring an additional 330,433 shares during the last quarter. Capital World Investors acquired a new position in Vulcan Materials in the first quarter valued at $388,027,000. Finally, Vontobel Holding Ltd. lifted its stake in shares of Vulcan Materials by 7.1% during the third quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock worth $342,971,000 after purchasing an additional 91,318 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Down 1.2 %

Shares of Vulcan Materials stock opened at $279.28 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The firm has a market cap of $36.88 billion, a P/E ratio of 44.05, a P/E/G ratio of 2.68 and a beta of 0.81. Vulcan Materials has a fifty-two week low of $209.39 and a fifty-two week high of $298.31. The business has a 50-day moving average price of $256.67 and a 200 day moving average price of $254.09.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share 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 the consensus estimate of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 earnings per share. On average, sell-side analysts forecast that Vulcan Materials will post 7.2 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio is currently 29.02%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays boosted their price objective on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. UBS Group assumed coverage on Vulcan Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Citigroup reduced their price objective on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Truist Financial boosted their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada reduced 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. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $280.46.

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.