Vulcan Materials (NYSE:VMC) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario boosted its position in shares of Vulcan Materials (NYSE:VMC) by 46.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,391 shares of the construction company’s stock after acquiring an additional 1,400 shares during the quarter. Investment Management Corp of Ontario’s holdings in Vulcan Materials were worth $1,100,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in VMC. Principal Financial Group Inc. lifted its holdings in shares of Vulcan Materials by 19.9% during the third 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 period. FMR LLC lifted its stake in Vulcan Materials by 2.2% during the 3rd quarter. FMR LLC now owns 3,660,931 shares of the construction company’s stock valued at $916,807,000 after acquiring an additional 78,271 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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. Stockbridge Partners LLC increased its stake in shares of Vulcan Materials by 9.6% in the third quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company’s stock worth $392,815,000 after acquiring an additional 137,365 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in Vulcan Materials by 7.1% during the third quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock valued at $342,971,000 after purchasing an additional 91,318 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Up 0.7 %

Shares of Vulcan Materials stock opened at $287.65 on Friday. The stock has a 50 day moving average of $268.17 and a 200 day moving average of $255.97. 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 has a market capitalization of $37.99 billion, a price-to-earnings ratio of 45.37, a PEG ratio of 2.77 and a beta of 0.81. Vulcan Materials has a fifty-two week low of $210.85 and a fifty-two week high of $298.31.

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). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business posted $2.29 earnings per share. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, research analysts predict that Vulcan Materials will post 7.16 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 4th were given a dividend of $0.46 per share. The ex-dividend date of this dividend 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 currently 29.02%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VMC. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Citigroup reduced their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Truist Financial upped their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. UBS Group started coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 target price for the company. Finally, Barclays increased their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.92.

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.