Verition Fund Management LLC Increases Stock Position in Vulcan Materials (NYSE:VMC)

Verition Fund Management LLC grew its holdings in Vulcan Materials (NYSE:VMC - Free Report) by 52.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,610 shares of the construction company's stock after purchasing an additional 28,011 shares during the quarter. Verition Fund Management LLC owned about 0.06% of Vulcan Materials worth $20,438,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. SouthState Corp raised its position in shares of Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company's stock valued at $25,000 after buying an additional 87 shares during the period. Kings Path Partners LLC purchased a new stake in shares of Vulcan Materials during the 2nd quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at approximately $30,000. UMB Bank n.a. raised its position in shares of Vulcan Materials by 61.8% during 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. Finally, Concord Wealth Partners purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at approximately $35,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VMC. Barclays boosted their target price on Vulcan Materials from $250.00 to $285.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price on Vulcan Materials from $245.00 to $290.00 and gave the company a "neutral" rating in a research report on Wednesday. StockNews.com raised Vulcan Materials from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Citigroup cut their target price on Vulcan Materials from $297.00 to $292.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada cut their target price 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. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $283.92.

Vulcan Materials Stock Up 0.6 %

Shares of VMC stock traded up $1.74 on Friday, reaching $288.13. 355,153 shares of the stock were exchanged, compared to its average volume of 835,379. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The business's 50 day moving average price is $265.28 and its 200 day moving average price is $255.27. The company has a market capitalization of $38.05 billion, a price-to-earnings ratio of 45.45, a PEG ratio of 2.77 and a beta of 0.81. Vulcan Materials has a twelve month low of $209.60 and a twelve month high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its earnings results 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 firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The business's revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 EPS. As a group, sell-side analysts expect that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 4th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.64%. Vulcan Materials's payout ratio is currently 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.