SteelPeak Wealth LLC Cuts Stock Position in Vulcan Materials (NYSE:VMC)

SteelPeak Wealth LLC decreased its position in Vulcan Materials (NYSE:VMC - Free Report) by 77.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,128 shares of the construction company's stock after selling 7,442 shares during the period. SteelPeak Wealth LLC's holdings in Vulcan Materials were worth $533,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SouthState Corp increased its holdings in Vulcan Materials by 669.2% in the 2nd 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 acquired a new stake in shares of Vulcan Materials in the second quarter valued at $27,000. UMB Bank n.a. raised its holdings in shares of Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company's stock valued at $31,000 after buying an additional 47 shares during the period. Concord Wealth Partners acquired a new position in Vulcan Materials during the 3rd quarter worth about $35,000. Finally, Manchester Capital Management LLC boosted its holdings in Vulcan Materials by 1,218.2% during the 1st quarter. Manchester Capital Management LLC now owns 145 shares of the construction company's stock valued at $40,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

VMC has been the topic of several research reports. Stephens reduced their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. StockNews.com cut shares of Vulcan Materials from a "hold" rating to a "sell" rating in a research report on Saturday, October 12th. Royal Bank of Canada cut their price objective on Vulcan Materials from $267.00 to $257.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 7th. Citigroup decreased their target price on Vulcan Materials from $297.00 to $292.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Vulcan Materials currently has an average rating of "Moderate Buy" and an average target price of $274.75.

Vulcan Materials Stock Down 1.3 %

Shares of NYSE:VMC traded down $3.54 during trading on Friday, hitting $270.39. 986,524 shares of the company were exchanged, compared to its average volume of 837,159. The firm's 50 day moving average price is $247.39 and its 200-day moving average price is $252.18. Vulcan Materials has a 12-month low of $206.02 and a 12-month high of $279.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 1.66. The stock has a market capitalization of $35.71 billion, a P/E ratio of 43.21, a PEG ratio of 2.60 and a beta of 0.82.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share (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 company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company earned $2.29 EPS. The business's revenue was down 8.3% on a year-over-year basis. On average, research analysts predict that Vulcan Materials will post 7.39 earnings per share for the current fiscal 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 given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.68%. The ex-dividend date is Monday, November 4th. Vulcan Materials's dividend payout ratio (DPR) is 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.