Dai ichi Life Insurance Company Ltd Sells 3,000 Shares of Vulcan Materials (NYSE:VMC)

Dai ichi Life Insurance Company Ltd lowered its position in shares of Vulcan Materials (NYSE:VMC - Free Report) by 39.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,529 shares of the construction company's stock after selling 3,000 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Vulcan Materials were worth $1,134,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VMC. SouthState Corp boosted its holdings in Vulcan Materials by 669.2% in the 2nd quarter. SouthState Corp now owns 100 shares of the construction company's stock worth $25,000 after buying an additional 87 shares during the period. Kings Path Partners LLC bought a new position in shares of Vulcan Materials in the second quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Vulcan Materials during the third quarter worth about $30,000. UMB Bank n.a. raised its stake in 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 purchasing an additional 47 shares during the period. Finally, Concord Wealth Partners bought a new stake in Vulcan Materials during the 3rd quarter valued at approximately $35,000. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Trading Down 0.7 %

VMC stock traded down $2.01 during mid-day trading on Thursday, reaching $286.39. 386,233 shares of the stock traded hands, compared to its average volume of 837,468. Vulcan Materials has a one year low of $209.60 and a one year high of $298.31. The stock has a market capitalization of $37.82 billion, a PE ratio of 45.17, a PEG 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. The business has a 50-day moving average price of $264.56 and a two-hundred day moving average price of $255.23.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). The firm had revenue of $2 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $2.29 earnings per share. Equities research analysts expect that Vulcan Materials will post 7.16 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently declared 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. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Monday, November 4th. Vulcan Materials's dividend payout ratio is currently 29.02%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group assumed coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They set a "buy" rating and a $349.00 price objective for the company. Royal Bank of Canada decreased their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 7th. 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 report on Thursday, August 8th. Barclays lifted their target price on Vulcan Materials from $250.00 to $285.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. Finally, Truist Financial increased their price target on Vulcan Materials from $300.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Vulcan Materials presently has an average rating of "Moderate Buy" and an average price target of $283.92.

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.