Seneca House Advisors Cuts Stake in Vulcan Materials (NYSE:VMC)

Seneca House Advisors cut its holdings in Vulcan Materials (NYSE:VMC) by 8.8% in the fourth quarter, Holdings Channel reports. The fund owned 27,780 shares of the construction company’s stock after selling 2,681 shares during the quarter. Vulcan Materials accounts for approximately 2.8% of Seneca House Advisors’ portfolio, making the stock its 12th largest position. Seneca House Advisors’ holdings in Vulcan Materials were worth $7,146,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on VMC shares. StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. UBS Group started coverage on Vulcan Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $349.00 target price on the stock. Truist Financial increased their price target on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays boosted 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and an average target price of $301.18.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $275.04 on Friday. The company has a fifty day simple moving average of $271.68 and a 200-day simple moving average of $259.47. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $36.32 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 2.16 and a beta of 0.83. Vulcan Materials has a 52-week low of $219.73 and a 52-week high of $298.31.

Vulcan Materials (NYSE:VMC) last released 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 business had revenue of $2 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.29 EPS. On average, equities analysts anticipate that Vulcan Materials will post 7.16 EPS for the current fiscal year.

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.