Kovitz Investment Group Partners LLC Raises Stake in Vulcan Materials (NYSE:VMC)

Kovitz Investment Group Partners LLC increased its stake in Vulcan Materials (NYSE:VMC - Free Report) by 21.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 13,450 shares of the construction company's stock after buying an additional 2,388 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Vulcan Materials were worth $3,368,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in VMC. Wahed Invest LLC increased its position in shares of Vulcan Materials by 13.9% in the third quarter. Wahed Invest LLC now owns 3,212 shares of the construction company's stock valued at $804,000 after acquiring an additional 392 shares during the period. Soros Fund Management LLC bought a new position in shares of Vulcan Materials in the 3rd quarter worth approximately $32,771,000. State Street Corp increased its position in Vulcan Materials by 1.2% in the third quarter. State Street Corp now owns 5,281,102 shares of the construction company's stock worth $1,322,546,000 after buying an additional 65,163 shares in the last quarter. Stifel Financial Corp raised its holdings in Vulcan Materials by 18.2% during the third quarter. Stifel Financial Corp now owns 126,512 shares of the construction company's stock valued at $31,683,000 after acquiring an additional 19,523 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in shares of Vulcan Materials by 30.2% during the 3rd quarter. Quantinno Capital Management LP now owns 4,590 shares of the construction company's stock worth $1,150,000 after acquiring an additional 1,065 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock traded down $5.63 during trading on Monday, reaching $281.23. The company's stock had a trading volume of 671,939 shares, compared to its average volume of 833,355. Vulcan Materials has a fifty-two week low of $216.38 and a fifty-two week high of $298.31. The firm has a market cap of $37.14 billion, a PE ratio of 44.36, a P/E/G ratio of 2.77 and a beta of 0.81. The company has a 50-day moving average price of $269.52 and a two-hundred day moving average price of $256.25. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results 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). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter last year, the business posted $2.29 earnings per share. The company's revenue for the quarter was down 8.3% compared to the same quarter last year. On average, analysts forecast that Vulcan Materials will post 7.16 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.65%. Vulcan Materials's payout ratio is currently 29.02%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on VMC shares. Barclays increased their target price on Vulcan Materials from $250.00 to $285.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. UBS Group began coverage on shares of Vulcan Materials in a research note on Thursday, November 7th. They set a "buy" rating and a $349.00 price target on the stock. Truist Financial raised their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, November 1st. StockNews.com raised shares of Vulcan Materials from a "sell" rating to a "hold" rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vulcan Materials from $245.00 to $290.00 and gave the company 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of "Moderate Buy" and an average target price of $283.92.

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.