Point72 Asset Management L.P. Cuts Position in Vulcan Materials (NYSE:VMC)

Point72 Asset Management L.P. lessened its holdings in Vulcan Materials (NYSE:VMC - Free Report) by 49.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,891 shares of the construction company's stock after selling 105,117 shares during the period. Point72 Asset Management L.P. owned about 0.08% of Vulcan Materials worth $26,518,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in shares of Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company's stock valued at $1,332,431,000 after purchasing an additional 884,580 shares during the last quarter. FMR LLC grew its stake in shares of Vulcan Materials by 2.2% during the third quarter. FMR LLC now owns 3,660,931 shares of the construction company's stock worth $916,807,000 after buying an additional 78,271 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 330,433 shares during the last quarter. Stockbridge Partners LLC increased its holdings in shares of Vulcan Materials by 9.6% during the third quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company's stock worth $392,815,000 after buying an additional 137,365 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in shares of Vulcan Materials by 7.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company's stock valued at $342,971,000 after acquiring an additional 91,318 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on VMC. UBS Group assumed coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a "buy" rating and a $349.00 price objective for the company. Barclays upped their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Truist Financial lifted 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. Citigroup decreased their price objective 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, JPMorgan Chase & Co. lifted their target price on Vulcan Materials from $245.00 to $290.00 and gave the stock a "neutral" rating in a report on Wednesday, November 27th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Vulcan Materials currently has a consensus rating of "Moderate Buy" and an average target price of $283.92.

Vulcan Materials Stock Down 0.3 %

Shares of NYSE VMC traded down $0.87 during trading on Friday, hitting $286.76. 1,355,213 shares of the company traded hands, compared to its average volume of 834,039. 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 business's fifty day moving average is $268.17 and its 200 day moving average is $255.97. The firm has a market capitalization of $37.87 billion, a price-to-earnings ratio of 45.23, a P/E/G ratio of 2.77 and a beta of 0.81. Vulcan Materials has a fifty-two week low of $210.85 and a fifty-two week high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm's revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.29 EPS. Equities research analysts predict that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a yield of 0.64%. Vulcan Materials's dividend payout ratio (DPR) is presently 29.02%.

Vulcan Materials 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.