Ascent Group LLC Purchases 4,334 Shares of Vulcan Materials (NYSE:VMC)

Ascent Group LLC boosted its holdings in shares of Vulcan Materials (NYSE:VMC - Free Report) by 63.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,200 shares of the construction company's stock after acquiring an additional 4,334 shares during the quarter. Ascent Group LLC's holdings in Vulcan Materials were worth $2,805,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SouthState Corp boosted its position in Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company's stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Vulcan Materials in the 2nd quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new position in Vulcan Materials in the third quarter worth approximately $30,000. UMB Bank n.a. raised its position in Vulcan Materials by 61.8% during the second 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 in the last quarter. Finally, Concord Wealth Partners acquired a new stake in Vulcan Materials in the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Performance

Shares of VMC traded down $1.45 during trading hours on Tuesday, reaching $285.60. 118,270 shares of the company traded hands, compared to its average volume of 831,155. Vulcan Materials has a 1-year low of $210.85 and a 1-year 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 stock has a market cap of $37.72 billion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 2.79 and a beta of 0.81. The stock's fifty day moving average is $265.98 and its 200 day moving average is $255.35.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.88% and a net margin of 11.43%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business posted $2.29 EPS. Vulcan Materials's revenue for the quarter was down 8.3% compared to the same quarter last year. Equities research analysts anticipate that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were issued a $0.46 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.64%. Vulcan Materials's payout ratio is presently 29.02%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VMC. Citigroup dropped their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. StockNews.com upgraded Vulcan Materials from a "sell" rating to a "hold" rating in a report on Friday, November 1st. UBS Group initiated coverage on Vulcan Materials in a research report on Thursday, November 7th. They issued a "buy" rating and a $349.00 price target for the company. Royal Bank of Canada lowered their price objective on Vulcan Materials from $267.00 to $257.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target 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. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $283.92.

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.