Edgestream Partners L.P. Takes Position in Vulcan Materials (NYSE:VMC)

Edgestream Partners L.P. purchased a new stake in shares of Vulcan Materials (NYSE:VMC) in the third quarter, according to its most recent filing with the SEC. The firm purchased 22,357 shares of the construction company’s stock, valued at approximately $5,599,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of 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 raised its holdings in Vulcan Materials by 18.4% in the 3rd 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. Ceredex Value Advisors LLC raised its holdings in Vulcan Materials by 136.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock valued at $89,117,000 after acquiring an additional 205,260 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Vulcan Materials by 32.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company’s stock valued at $184,353,000 after acquiring an additional 178,634 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Vulcan Materials by 1,191.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,005 shares of the construction company’s stock valued at $39,541,000 after acquiring an additional 146,695 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on VMC shares. JPMorgan Chase & Co. boosted their price target on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial upped their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada dropped their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Citigroup dropped their price objective on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $283.92.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock opened at $288.13 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The firm’s 50-day simple moving average is $265.28 and its 200-day simple moving average is $255.27. Vulcan Materials has a twelve month low of $209.60 and a twelve month high of $298.31. The firm has a market cap of $38.05 billion, a P/E ratio of 45.45, 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 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). The business 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%. Vulcan Materials’s revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. As a group, research analysts expect that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

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