Advisors Asset Management Inc. Reduces Holdings in Vulcan Materials (NYSE:VMC)

Advisors Asset Management Inc. lessened its holdings in shares of Vulcan Materials (NYSE:VMC - Free Report) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,492 shares of the construction company's stock after selling 2,278 shares during the period. Advisors Asset Management Inc.'s holdings in Vulcan Materials were worth $8,888,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SouthState Corp increased its holdings in shares of Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company's stock worth $25,000 after acquiring an additional 87 shares during the last quarter. Kings Path Partners LLC bought a new stake in Vulcan Materials in the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Vulcan Materials during the 3rd quarter valued at $30,000. UMB Bank n.a. lifted its position in shares of Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company's stock valued at $31,000 after acquiring an additional 47 shares during the period. Finally, Concord Wealth Partners bought a new stake in shares of Vulcan Materials during the 3rd quarter valued at $35,000. Institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Up 0.9 %

NYSE:VMC traded up $2.52 during mid-day trading on Thursday, reaching $280.33. The company's stock had a trading volume of 96,045 shares, compared to its average volume of 837,790. The firm has a market capitalization of $37.02 billion, a PE ratio of 43.82, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. Vulcan Materials has a 1 year low of $209.60 and a 1 year high of $298.31. The stock has a fifty day moving average of $259.41 and a 200-day moving average of $254.41.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS 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 firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The business's quarterly revenue was down 8.3% compared to the same quarter last year. Equities research analysts forecast that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials's dividend payout ratio is currently 29.02%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VMC. Barclays upped their target price on Vulcan Materials from $250.00 to $285.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Stephens cut their price target on Vulcan Materials from $300.00 to $280.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. Citigroup reduced their target price on Vulcan Materials from $297.00 to $292.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. UBS Group began coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a "buy" rating and a $349.00 target price on the stock. Finally, Truist Financial upped their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $280.46.

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.