ING Groep NV Increases Stake in Vulcan Materials (NYSE:VMC)

ING Groep NV grew its holdings in shares of Vulcan Materials (NYSE:VMC - Free Report) by 38.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,662 shares of the construction company's stock after buying an additional 15,766 shares during the quarter. ING Groep NV's holdings in Vulcan Materials were worth $14,190,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. United Asset Strategies Inc. increased its position in Vulcan Materials by 1.1% during the 3rd quarter. United Asset Strategies Inc. now owns 3,747 shares of the construction company's stock valued at $938,000 after buying an additional 39 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Vulcan Materials by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 1,987 shares of the construction company's stock valued at $498,000 after acquiring an additional 44 shares in the last quarter. Marcum Wealth LLC raised its position in shares of Vulcan Materials by 5.7% in the 3rd quarter. Marcum Wealth LLC now owns 854 shares of the construction company's stock valued at $214,000 after purchasing an additional 46 shares during the last quarter. UMB Bank n.a. boosted its stake in Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company's stock worth $31,000 after purchasing an additional 47 shares in the last quarter. Finally, Golden State Equity Partners grew its position in Vulcan Materials by 4.5% during the 3rd quarter. Golden State Equity Partners now owns 1,099 shares of the construction company's stock worth $275,000 after purchasing an additional 47 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Vulcan Materials from $267.00 to $257.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 7th. Stephens dropped their price target on Vulcan Materials from $300.00 to $280.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. Citigroup reduced their price objective on Vulcan Materials from $297.00 to $292.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. UBS Group started coverage on Vulcan Materials in a research report on Thursday, November 7th. They issued a "buy" rating and a $349.00 target price on the stock. Finally, Truist Financial raised their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $280.46.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock traded down $3.40 on Friday, hitting $279.28. The company's stock had a trading volume of 664,344 shares, compared to its average volume of 843,970. The company has a market capitalization of $36.88 billion, a price-to-earnings ratio of 44.47, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81. 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 quick ratio of 2.02 and a current ratio of 2.86. The firm has a fifty day moving average price of $255.72 and a 200-day moving average price of $253.99.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted 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 analysts' expectations of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The firm's quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 earnings per share. As a group, sell-side analysts anticipate that Vulcan Materials will post 7.2 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.66%. Vulcan Materials's dividend payout ratio is currently 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.