Premier Fund Managers Ltd Raises Stock Holdings in Vulcan Materials (NYSE:VMC)

Premier Fund Managers Ltd increased its position in Vulcan Materials (NYSE:VMC - Free Report) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 250,000 shares of the construction company's stock after acquiring an additional 50,000 shares during the period. Vulcan Materials comprises approximately 2.2% of Premier Fund Managers Ltd's holdings, making the stock its 16th largest position. Premier Fund Managers Ltd owned approximately 0.19% of Vulcan Materials worth $62,554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SouthState Corp boosted its holdings in Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company's stock worth $25,000 after purchasing an additional 87 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Vulcan Materials in the 2nd quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Vulcan Materials in the third quarter worth $30,000. UMB Bank n.a. increased its position in Vulcan Materials by 61.8% during the second quarter. UMB Bank n.a. now owns 123 shares of the construction company's stock valued at $31,000 after acquiring an additional 47 shares during the last quarter. Finally, Concord Wealth Partners purchased a new stake in Vulcan Materials during the third quarter valued at $35,000. 90.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VMC shares. Citigroup cut their price target on Vulcan Materials from $297.00 to $292.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Barclays raised their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. UBS Group started coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They set a "buy" rating and a $349.00 target price for the company. StockNews.com upgraded shares of Vulcan Materials from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. Finally, Stephens reduced their price objective on Vulcan Materials from $300.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Five investment 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $280.46.

Vulcan Materials Price Performance

Shares of NYSE:VMC traded down $0.92 during trading on Wednesday, hitting $277.09. 127,403 shares of the company's stock were exchanged, compared to its average volume of 838,575. The business's 50-day simple moving average is $258.51 and its 200 day simple moving average is $254.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. Vulcan Materials has a 52-week low of $209.60 and a 52-week high of $298.31. The company has a market cap of $36.59 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 2.68 and a beta of 0.81.

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 (EPS) 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 for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The company's quarterly revenue was down 8.3% on a year-over-year basis. As a group, equities analysts predict that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, November 4th. Vulcan Materials's payout ratio is currently 29.02%.

About Vulcan Materials

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.