Tidal Investments LLC Raises Stock Position in Vulcan Materials (NYSE:VMC)

Tidal Investments LLC grew its stake in Vulcan Materials (NYSE:VMC) by 185.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,661 shares of the construction company’s stock after purchasing an additional 14,061 shares during the quarter. Tidal Investments LLC’s holdings in Vulcan Materials were worth $5,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in 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 valued at $1,332,431,000 after acquiring an additional 884,580 shares in the last quarter. State Street Corp lifted its position in Vulcan Materials by 1.2% during the 3rd quarter. State Street Corp now owns 5,281,102 shares of the construction company’s stock valued at $1,322,546,000 after acquiring an additional 65,163 shares during the period. FMR LLC grew its holdings in Vulcan Materials by 2.2% in the third quarter. FMR LLC now owns 3,660,931 shares of the construction company’s stock worth $916,807,000 after purchasing an additional 78,271 shares during the period. Geode Capital Management LLC grew its holdings in Vulcan Materials by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company’s stock worth $826,644,000 after purchasing an additional 33,061 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Vulcan Materials by 18.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after purchasing an additional 330,433 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on VMC shares. Barclays upped their price target on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Truist Financial increased their target price on 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 raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Finally, UBS Group initiated 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 on the stock. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and a consensus target price of $283.92.

Vulcan Materials Trading Down 0.8 %

NYSE:VMC opened at $275.75 on Friday. The company has a market cap of $36.42 billion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 2.70 and a beta of 0.81. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The company has a 50 day simple moving average of $272.31 and a two-hundred day simple moving average of $256.80. Vulcan Materials has a 12 month low of $218.37 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The firm 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 firm’s revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 EPS. Research analysts forecast that Vulcan Materials will post 7.16 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 4th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Monday, November 4th. Vulcan Materials’s payout ratio is 29.02%.

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.