Assetmark Inc. Grows Position in Vulcan Materials (NYSE:VMC)

Assetmark Inc. lifted its holdings in shares of Vulcan Materials (NYSE:VMC) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,064 shares of the construction company’s stock after purchasing an additional 1,185 shares during the quarter. Assetmark Inc.’s holdings in Vulcan Materials were worth $7,529,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VMC. SouthState Corp raised its position in Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Kings Path Partners LLC purchased a new position in shares of Vulcan Materials during the 2nd quarter valued at about $27,000. UMB Bank n.a. lifted its position in Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after buying an additional 47 shares during the last quarter. Concord Wealth Partners purchased a new stake in Vulcan Materials in the third quarter worth approximately $35,000. Finally, Washington Trust Advisors Inc. grew its position in Vulcan Materials by 240.4% during the third quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock valued at $40,000 after acquiring an additional 113 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VMC has been the subject of a number of recent research reports. UBS Group assumed coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Truist Financial raised their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Barclays boosted their price objective on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $280.46.

Vulcan Materials Trading Down 0.1 %

Shares of VMC opened at $292.04 on Tuesday. Vulcan Materials has a 1-year low of $209.39 and a 1-year high of $298.31. 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 firm’s 50-day moving average price is $251.73 and its 200-day moving average price is $253.13. The firm has a market capitalization of $38.57 billion, a price-to-earnings ratio of 46.11, a PEG ratio of 2.81 and a beta of 0.81.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data 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). 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 was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 earnings per share. Sell-side analysts anticipate that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.63%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio is currently 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.