Alkeon Capital Management LLC Decreases Stock Position in Vulcan Materials (NYSE:VMC)

Alkeon Capital Management LLC decreased its holdings in Vulcan Materials (NYSE:VMC) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 832,001 shares of the construction company’s stock after selling 788 shares during the period. Alkeon Capital Management LLC owned about 0.63% of Vulcan Materials worth $208,358,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cetera Advisors LLC grew its position in Vulcan Materials by 118.1% in the 1st quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock worth $1,132,000 after purchasing an additional 2,245 shares during the period. Mather Group LLC. increased its position in shares of Vulcan Materials by 16.1% during the 2nd quarter. Mather Group LLC. now owns 491 shares of the construction company’s stock valued at $134,000 after purchasing an additional 68 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Vulcan Materials by 3.0% in the 2nd quarter. Raymond James & Associates now owns 202,539 shares of the construction company’s stock worth $50,367,000 after purchasing an additional 5,979 shares during the period. Tidal Investments LLC lifted its stake in shares of 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 purchasing an additional 4,466 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Vulcan Materials by 62.1% in the first quarter. Janus Henderson Group PLC now owns 30,226 shares of the construction company’s stock worth $8,247,000 after buying an additional 11,583 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VMC has been the topic of several analyst reports. Stephens dropped their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Truist Financial boosted their price target on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup decreased their price objective on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada lowered 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 investment 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, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average target price of $283.92.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $286.39 on Friday. 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 twelve month low of $209.60 and a twelve month high of $298.31. The company’s 50-day moving average price is $264.56 and its 200-day moving average price is $255.23. The company has a market cap of $37.82 billion, a PE ratio of 45.17, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81.

Vulcan Materials (NYSE:VMC) last issued 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). The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. On average, equities research analysts forecast that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

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