Vulcan Materials (NYSE:VMC) Stake Lessened by Palmer Knight Co

Palmer Knight Co decreased its holdings in Vulcan Materials (NYSE:VMC) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,131 shares of the construction company’s stock after selling 105 shares during the period. Vulcan Materials comprises 2.8% of Palmer Knight Co’s portfolio, making the stock its 22nd largest holding. Palmer Knight Co’s holdings in Vulcan Materials were worth $6,294,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in VMC. Vanguard Group Inc. increased its position in Vulcan Materials by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after purchasing an additional 755,991 shares during the last quarter. Principal Financial Group Inc. lifted its stake 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 grew its position 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 worth $533,551,000 after acquiring an additional 330,433 shares in the last quarter. Capital World Investors acquired a new position in shares of Vulcan Materials during the 1st quarter worth $388,027,000. Finally, Vontobel Holding Ltd. raised its holdings 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 purchasing an additional 91,318 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VMC shares. Royal Bank of Canada lowered 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 research report on Wednesday, August 7th. Citigroup reduced their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. UBS Group initiated coverage on Vulcan Materials in a report on Thursday. They set a “buy” rating and a $349.00 price target on the stock. Truist Financial lifted their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Barclays upped their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.46.

Vulcan Materials Trading Up 0.0 %

Vulcan Materials stock opened at $290.59 on Friday. The business has a 50 day moving average price of $249.81 and a two-hundred day moving average price of $252.67. 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 has a 12 month low of $206.79 and a 12 month high of $298.31. The stock has a market cap of $38.38 billion, a price-to-earnings ratio of 45.83, a price-to-earnings-growth ratio of 2.79 and a beta of 0.81.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, October 30th. The construction company reported $2.22 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 firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, equities analysts forecast that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.63%. Vulcan Materials’s dividend payout ratio (DPR) is currently 29.02%.

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.