FORA Capital LLC Increases Stake in Vulcan Materials (NYSE:VMC)

FORA Capital LLC raised its holdings in shares of Vulcan Materials (NYSE:VMC) by 19.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,834 shares of the construction company’s stock after purchasing an additional 3,462 shares during the quarter. FORA Capital LLC’s holdings in Vulcan Materials were worth $5,217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Janus Henderson Group PLC boosted its holdings in Vulcan Materials by 62.1% in the 1st 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 period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Vulcan Materials during the first quarter worth $282,000. California State Teachers Retirement System boosted its holdings in shares of Vulcan Materials by 3.3% in the first quarter. California State Teachers Retirement System now owns 237,309 shares of the construction company’s stock worth $64,766,000 after acquiring an additional 7,552 shares during the period. Tidal Investments LLC grew its position in shares of Vulcan Materials by 87.1% in the first quarter. Tidal Investments LLC now owns 9,591 shares of the construction company’s stock valued at $2,618,000 after purchasing an additional 4,466 shares in the last quarter. Finally, Plato Investment Management Ltd raised its stake in shares of Vulcan Materials by 25,060.0% during the 1st quarter. Plato Investment Management Ltd now owns 1,258 shares of the construction company’s stock valued at $343,000 after purchasing an additional 1,253 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their target price on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday. Stephens reduced their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Truist Financial increased their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada lowered their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and an average price target of $283.92.

Vulcan Materials Price Performance

NYSE VMC traded down $0.17 on Wednesday, reaching $288.23. 27,294 shares of the company’s stock traded hands, compared to its average volume of 835,854. The stock has a market cap of $38.06 billion, a PE ratio of 45.49, a P/E/G ratio of 2.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. Vulcan Materials has a 12 month low of $209.60 and a 12 month high of $298.31. The stock has a 50-day simple moving average of $263.07 and a 200 day simple moving average of $254.79.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, October 30th. The construction company reported $2.22 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 during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the business earned $2.29 EPS. Vulcan Materials’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 company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s payout ratio is 29.02%.

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.