MetLife Investment Management LLC Has $8.99 Million Stock Position in Vulcan Materials (NYSE:VMC)

MetLife Investment Management LLC cut its holdings in Vulcan Materials (NYSE:VMC) by 2.6% during the third quarter, Holdings Channel.com reports. The firm owned 35,896 shares of the construction company’s stock after selling 964 shares during the quarter. MetLife Investment Management LLC’s holdings in Vulcan Materials were worth $8,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VMC. Principal Financial Group Inc. boosted its stake in shares of Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after buying an additional 884,580 shares during the last quarter. FMR LLC grew its stake in Vulcan Materials by 2.2% in the third quarter. FMR LLC now owns 3,660,931 shares of the construction company’s stock valued at $916,807,000 after purchasing an additional 78,271 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after purchasing an additional 330,433 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Vulcan Materials by 7.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock worth $342,971,000 after purchasing an additional 91,318 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Vulcan Materials by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock valued at $331,404,000 after buying an additional 43,294 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Trading Down 0.7 %

VMC stock opened at $286.39 on Friday. Vulcan Materials has a 52 week low of $209.60 and a 52 week high of $298.31. 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 company’s 50-day simple moving average is $264.56 and its 200 day simple moving average is $255.23. The company has a market capitalization 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 announced its earnings results 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 quarter in the previous year, the company earned $2.29 EPS. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate 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. Shareholders of record on Monday, November 4th were issued a $0.46 dividend. The ex-dividend date of this dividend was 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%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup lowered their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday. UBS Group began coverage on shares of Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 target price for the company. Truist Financial boosted their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Stephens cut their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $283.92.

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.