Alkeon Capital Management LLC Trims Stock Holdings in Vulcan Materials (NYSE:VMC)

Alkeon Capital Management LLC lowered its holdings in shares of Vulcan Materials (NYSE:VMC) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 832,001 shares of the construction company’s stock after selling 788 shares during the quarter. Alkeon Capital Management LLC’s holdings in Vulcan Materials were worth $208,358,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of VMC. Janus Henderson Group PLC boosted its stake in shares of Vulcan Materials by 62.1% during the first quarter. Janus Henderson Group PLC now owns 30,226 shares of the construction company’s stock valued at $8,247,000 after purchasing an additional 11,583 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Vulcan Materials in the 1st quarter valued at about $282,000. Tidal Investments LLC grew its stake in Vulcan Materials by 87.1% in the 1st quarter. Tidal Investments LLC now owns 9,591 shares of the construction company’s stock worth $2,618,000 after acquiring an additional 4,466 shares in the last quarter. Swedbank AB purchased a new position in shares of Vulcan Materials during the first quarter worth approximately $519,000. Finally, Cetera Investment Advisers raised its stake in shares of Vulcan Materials by 111.5% during the first quarter. Cetera Investment Advisers now owns 14,423 shares of the construction company’s stock valued at $3,936,000 after acquiring an additional 7,603 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

VMC has been the topic of several research analyst reports. UBS Group assumed coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price objective on the stock. Citigroup dropped their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Stephens decreased their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Truist Financial boosted their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $283.92.

Vulcan Materials Stock Down 0.7 %

Shares of VMC stock opened at $286.39 on Friday. The stock’s fifty day moving average price is $264.56 and its 200 day moving average price is $255.23. Vulcan Materials has a 1-year low of $209.60 and a 1-year high of $298.31. The company has a market cap of $37.82 billion, a price-to-earnings ratio of 45.17, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02.

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 the consensus estimate of $2.34 by ($0.12). The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business’s revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. On average, research analysts expect that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.64%. Vulcan Materials’s 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.