Los Angeles Capital Management LLC Sells 49,596 Shares of Vulcan Materials (NYSE:VMC)

Los Angeles Capital Management LLC trimmed its holdings in shares of Vulcan Materials (NYSE:VMC) by 67.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,368 shares of the construction company’s stock after selling 49,596 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Vulcan Materials were worth $6,102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VMC. SouthState Corp increased its position in Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after buying an additional 87 shares in the last quarter. Kings Path Partners LLC purchased a new stake in Vulcan Materials in the 2nd quarter worth approximately $27,000. UMB Bank n.a. raised its stake in Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after acquiring an additional 47 shares during the period. Concord Wealth Partners purchased a new position in Vulcan Materials during the third quarter valued at approximately $35,000. Finally, Washington Trust Advisors Inc. boosted its position in shares of Vulcan Materials by 240.4% in the third quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock worth $40,000 after purchasing an additional 113 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VMC has been the subject of a number of analyst reports. UBS Group started coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target for the company. JPMorgan Chase & Co. cut their target price on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Barclays boosted their price target on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Citigroup cut their price objective on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Truist Financial boosted their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. 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 currently has an average rating of “Moderate Buy” and an average target price of $280.46.

Vulcan Materials Stock Down 0.1 %

NYSE:VMC opened at $292.04 on Tuesday. The firm has a market capitalization of $38.57 billion, a P/E ratio of 46.06, a PEG ratio of 2.81 and a beta of 0.81. The company’s fifty day moving average price is $251.73 and its 200-day moving average price is $253.13. Vulcan Materials has a 1-year low of $209.39 and a 1-year high of $298.31. 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 (NYSE:VMC) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the business posted $2.29 earnings per share. The firm’s revenue was down 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is presently 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.