Sumitomo Life Insurance Co. Has $3.17 Million Stock Holdings in Vulcan Materials (NYSE:VMC)

Sumitomo Life Insurance Co. grew its position in shares of Vulcan Materials (NYSE:VMC) by 438.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,658 shares of the construction company’s stock after acquiring an additional 10,308 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Vulcan Materials were worth $3,170,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in VMC. Register Financial Advisors LLC acquired a new position in Vulcan Materials during the first quarter worth $27,000. SouthState Corp boosted its stake in shares of Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after buying an additional 87 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Vulcan Materials in the 2nd quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Vulcan Materials in the first quarter valued at about $33,000. Finally, UMB Bank n.a. raised its holdings in Vulcan Materials by 61.8% during the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after acquiring an additional 47 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Performance

Vulcan Materials stock traded up $1.01 during trading hours on Wednesday, hitting $253.80. The company had a trading volume of 50,808 shares, compared to its average volume of 821,842. The firm has a 50-day moving average of $243.63 and a 200 day moving average of $252.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. The firm has a market cap of $33.52 billion, a PE ratio of 36.87, a PEG ratio of 2.33 and a beta of 0.82. Vulcan Materials has a one year low of $190.51 and a one year high of $278.79.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. Vulcan Materials’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. On average, sell-side analysts expect that Vulcan Materials will post 7.67 earnings per share for the current year.

Vulcan Materials Dividend Announcement

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 issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s dividend payout ratio is currently 26.86%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VMC shares. Citigroup decreased their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. StockNews.com downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday. Truist Financial dropped their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price objective on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Loop Capital dropped their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.45.

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.