US Bancorp DE Trims Stock Position in Vulcan Materials (NYSE:VMC)

US Bancorp DE lowered its stake in Vulcan Materials (NYSE:VMC - Free Report) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,645 shares of the construction company's stock after selling 2,888 shares during the period. US Bancorp DE's holdings in Vulcan Materials were worth $10,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets lifted its position in Vulcan Materials by 13.4% in the 1st quarter. BNP Paribas Financial Markets now owns 76,356 shares of the construction company's stock valued at $20,839,000 after acquiring an additional 9,031 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Vulcan Materials by 18.1% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,662 shares of the construction company's stock worth $999,000 after purchasing an additional 560 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Vulcan Materials by 621.1% during the 1st quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company's stock worth $64,581,000 after purchasing an additional 203,166 shares during the last quarter. Haverford Trust Co acquired a new position in shares of Vulcan Materials during the 1st quarter worth about $183,000. Finally, Graypoint LLC acquired a new position in shares of Vulcan Materials during the 1st quarter worth about $245,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Stock Down 1.3 %

Shares of Vulcan Materials stock traded down $3.54 during trading hours on Friday, reaching $270.39. The company's stock had a trading volume of 986,524 shares, compared to its average volume of 963,466. Vulcan Materials has a one year low of $206.02 and a one year high of $279.47. The company has a market capitalization of $35.71 billion, a P/E ratio of 42.65, a P/E/G ratio of 2.60 and a beta of 0.80. The stock's fifty day simple moving average is $247.70 and its two-hundred day simple moving average is $252.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 2.86.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $2.01 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The firm's revenue for the quarter was down 8.3% on a year-over-year basis. On average, research analysts forecast that Vulcan Materials will post 7.32 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be issued 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 yield of 0.68%. Vulcan Materials's dividend payout ratio (DPR) is presently 29.02%.

Analyst Upgrades and Downgrades

VMC has been the topic of a number of research reports. Truist Financial upped their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Vulcan Materials from $250.00 to $245.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Stephens dropped their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. StockNews.com raised shares of Vulcan Materials from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Citigroup dropped their price objective on shares of Vulcan Materials from $297.00 to $292.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $274.75.

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.