iA Global Asset Management Inc. Sells 3,499 Shares of Vulcan Materials (NYSE:VMC)

iA Global Asset Management Inc. lessened its position in Vulcan Materials (NYSE:VMC - Free Report) by 12.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 25,580 shares of the construction company's stock after selling 3,499 shares during the period. iA Global Asset Management Inc.'s holdings in Vulcan Materials were worth $6,406,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in VMC. Principal Financial Group Inc. raised its holdings in Vulcan Materials by 19.9% during the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company's stock worth $1,332,431,000 after buying an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position 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 worth $533,551,000 after acquiring an additional 330,433 shares in the last quarter. Ceredex Value Advisors LLC increased its position in shares of Vulcan Materials by 136.3% during the third quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company's stock worth $89,117,000 after acquiring an additional 205,260 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Vulcan Materials by 32.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company's stock worth $184,353,000 after acquiring an additional 178,634 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Vulcan Materials by 1,191.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,005 shares of the construction company's stock valued at $39,541,000 after acquiring an additional 146,695 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on VMC. StockNews.com raised Vulcan Materials from a "sell" rating to a "hold" rating in a report on Friday, November 1st. Barclays upped 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. Truist Financial raised their price objective on Vulcan Materials from $300.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Vulcan Materials from $245.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 27th. Finally, UBS Group started coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They issued a "buy" rating and a $349.00 target price for the company. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Vulcan Materials presently has an average rating of "Moderate Buy" and an average price target of $283.92.

Vulcan Materials Stock Performance

VMC traded down $0.77 during midday trading on Friday, reaching $286.86. The company had a trading volume of 1,355,213 shares, compared to its average volume of 617,268. The business has a 50-day moving average price of $268.90 and a two-hundred day moving average price of $256.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. Vulcan Materials has a 12-month low of $210.85 and a 12-month high of $298.31. The stock has a market cap of $37.88 billion, a PE ratio of 45.25, a P/E/G ratio of 2.77 and a beta of 0.81.

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). The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. Vulcan Materials's revenue for the quarter was down 8.3% on a year-over-year basis. During the same period last year, the company posted $2.29 earnings per share. On average, sell-side analysts expect that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

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