Stonegate Investment Group LLC Purchases 233 Shares of Vulcan Materials (NYSE:VMC)

Stonegate Investment Group LLC grew its position in shares of Vulcan Materials (NYSE:VMC) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,779 shares of the construction company’s stock after acquiring an additional 233 shares during the quarter. Stonegate Investment Group LLC’s holdings in Vulcan Materials were worth $5,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Contravisory Investment Management Inc. grew its holdings in Vulcan Materials by 1.6% during the first quarter. Contravisory Investment Management Inc. now owns 2,579 shares of the construction company’s stock worth $704,000 after buying an additional 40 shares in the last quarter. Marcum Wealth LLC grew its holdings in Vulcan Materials by 5.7% during the third quarter. Marcum Wealth LLC now owns 854 shares of the construction company’s stock worth $214,000 after buying an additional 46 shares in the last quarter. UMB Bank n.a. grew 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 buying an additional 47 shares in the last quarter. Monetary Management Group Inc. grew its holdings in Vulcan Materials by 2.3% during the second quarter. Monetary Management Group Inc. now owns 2,250 shares of the construction company’s stock worth $560,000 after buying an additional 50 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Vulcan Materials by 13.6% during the first quarter. Covestor Ltd now owns 425 shares of the construction company’s stock worth $116,000 after buying an additional 51 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

VMC has been the subject of a number of recent analyst reports. Truist Financial reduced their price objective on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Citigroup reduced their price objective 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. Loop Capital reduced their price objective on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, StockNews.com downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and a consensus price target of $272.45.

Vulcan Materials Price Performance

VMC traded up $1.47 during trading on Friday, reaching $260.11. 138,203 shares of the company were exchanged, compared to its average volume of 820,167. The company’s 50-day moving average is $244.18 and its two-hundred day moving average is $252.59. The company has a market cap of $34.40 billion, a price-to-earnings ratio of 37.76, a P/E/G ratio of 2.33 and a beta of 0.82. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. Vulcan Materials has a 12-month low of $190.51 and a 12-month high of $278.79.

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

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.71%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

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.