Vulcan Materials (NYSE:VMC) Shares Acquired by Synovus Financial Corp

Synovus Financial Corp lifted its stake in shares of Vulcan Materials (NYSE:VMC - Free Report) by 20.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,619 shares of the construction company's stock after purchasing an additional 3,615 shares during the period. Synovus Financial Corp's holdings in Vulcan Materials were worth $5,415,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Principal Financial Group Inc. boosted its stake in Vulcan Materials by 19.9% during the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company's stock worth $1,332,431,000 after buying an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company's stock valued at $533,551,000 after acquiring an additional 330,433 shares during the last quarter. Ceredex Value Advisors LLC boosted its position in shares of Vulcan Materials by 136.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company's stock valued at $89,117,000 after acquiring an additional 205,260 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Vulcan Materials by 32.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company's stock valued at $184,353,000 after purchasing an additional 178,634 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Vulcan Materials by 1,191.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,005 shares of the construction company's stock worth $39,541,000 after purchasing an additional 146,695 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Vulcan Materials Stock Down 0.8 %

Vulcan Materials stock traded down $2.34 during mid-day trading on Friday, reaching $275.77. 492,601 shares of the company's stock were exchanged, compared to its average volume of 831,460. The company has a fifty day moving average of $272.31 and a 200-day moving average of $256.80. The company has a market cap of $36.42 billion, a P/E ratio of 43.50, a P/E/G ratio of 2.70 and a beta of 0.81. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. Vulcan Materials has a twelve month low of $218.37 and a twelve month high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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% on a year-over-year basis. Sell-side analysts expect that Vulcan Materials will post 7.16 EPS for the current 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 0.67%. Vulcan Materials's payout ratio is 29.02%.

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.