Geneva Capital Management LLC Raises Holdings in Vulcan Materials (NYSE:VMC)

Geneva Capital Management LLC grew its position in shares of Vulcan Materials (NYSE:VMC) by 20.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 58,536 shares of the construction company’s stock after acquiring an additional 9,980 shares during the period. Geneva Capital Management LLC’s holdings in Vulcan Materials were worth $14,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of VMC. Aigen Investment Management LP purchased a new position in Vulcan Materials in the third quarter valued at approximately $1,605,000. Prime Capital Investment Advisors LLC raised its position in Vulcan Materials by 11.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,113 shares of the construction company’s stock valued at $279,000 after purchasing an additional 110 shares during the period. Proactive Wealth Strategies LLC acquired a new position in shares of Vulcan Materials during the third quarter worth about $2,755,000. GSA Capital Partners LLP grew its stake in shares of Vulcan Materials by 78.9% in the third quarter. GSA Capital Partners LLP now owns 2,170 shares of the construction company’s stock valued at $543,000 after buying an additional 957 shares in the last quarter. Finally, Waverton Investment Management Ltd raised its holdings in shares of Vulcan Materials by 25.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 188,948 shares of the construction company’s stock valued at $47,302,000 after buying an additional 38,329 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $288.38 on Wednesday. The stock has a market capitalization of $38.08 billion, a P/E ratio of 45.49, a P/E/G ratio of 2.81 and a beta of 0.81. The firm’s 50-day moving average price is $252.67 and its two-hundred day moving average price is $253.36. Vulcan Materials has a 52-week low of $209.39 and a 52-week 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 released 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 company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.64%. Vulcan Materials’s dividend payout ratio is presently 29.02%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, November 1st. UBS Group started coverage on Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target for the company. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Stephens decreased their price target 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. Finally, 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 report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $280.46.

About Vulcan Materials

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.