Kentucky Retirement Systems Sells 766 Shares of Vulcan Materials (NYSE:VMC)

Kentucky Retirement Systems lessened its stake in Vulcan Materials (NYSE:VMC) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,200 shares of the construction company’s stock after selling 766 shares during the quarter. Kentucky Retirement Systems’ holdings in Vulcan Materials were worth $2,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of VMC. Principal Financial Group Inc. raised its holdings in Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after purchasing an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake 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 stake in Vulcan Materials during the 1st quarter worth $388,027,000. Vontobel Holding Ltd. raised its position in shares of Vulcan Materials by 7.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock valued at $342,971,000 after acquiring an additional 91,318 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Vulcan Materials by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock worth $331,404,000 after purchasing an additional 43,294 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Down 1.2 %

Shares of VMC stock opened at $279.28 on Monday. The firm has a 50 day moving average price of $256.67 and a two-hundred day moving average price of $254.05. The company has a market capitalization of $36.88 billion, a PE ratio of 44.05, a price-to-earnings-growth ratio of 2.68 and a beta of 0.81. Vulcan Materials has a 12-month low of $209.39 and a 12-month high of $298.31. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm earned $2.29 EPS. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, analysts predict that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company 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 $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s payout ratio is presently 29.02%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on VMC shares. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada cut their price target 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. Stephens lowered their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. UBS Group started coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target on the stock. Finally, Truist Financial boosted their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.