Patten & Patten Inc. TN Has $2.08 Million Position in Vulcan Materials (NYSE:VMC)

Patten & Patten Inc. TN lowered its position in shares of Vulcan Materials (NYSE:VMC - Free Report) by 21.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,297 shares of the construction company's stock after selling 2,204 shares during the period. Patten & Patten Inc. TN's holdings in Vulcan Materials were worth $2,078,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Vulcan Materials by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company's stock worth $4,368,273,000 after buying an additional 755,991 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Vulcan Materials by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company's stock worth $1,332,431,000 after acquiring an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Vulcan Materials by 18.4% in 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 purchasing an additional 330,433 shares during the last quarter. Capital World Investors bought a new stake in shares of Vulcan Materials in the first quarter valued at about $388,027,000. Finally, Vontobel Holding Ltd. grew its stake in Vulcan Materials by 7.1% in the third quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company's stock valued at $342,971,000 after purchasing an additional 91,318 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Analysts Set New Price Targets

VMC has been the topic of several recent research reports. Citigroup lowered their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Stephens lowered their price objective 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. 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 report on Friday, November 1st. Royal Bank of Canada reduced their price target 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. Finally, UBS Group began coverage on Vulcan Materials in a research report on Thursday. They set a "buy" rating and a $349.00 price target on the stock. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $280.46.

Vulcan Materials Price Performance

Vulcan Materials stock traded up $1.54 during midday trading on Monday, reaching $293.85. 241,264 shares of the company were exchanged, compared to its average volume of 844,523. The firm's 50-day simple moving average is $251.73 and its 200-day simple moving average is $253.13. Vulcan Materials has a 1 year low of $209.39 and a 1 year high of $298.31. The company has a market capitalization of $38.81 billion, a price-to-earnings ratio of 46.11, a P/E/G ratio of 2.81 and a beta of 0.81. 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 (NYSE:VMC - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business's revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 earnings per share. On average, analysts anticipate that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.63%. Vulcan Materials's payout ratio is presently 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.