Merit Financial Group LLC Invests $263,000 in Vulcan Materials (NYSE:VMC)

Merit Financial Group LLC acquired a new stake in shares of Vulcan Materials (NYSE:VMC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,023 shares of the construction company’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after purchasing an additional 884,580 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Vulcan Materials by 18.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after buying an additional 330,433 shares in the last quarter. Ceredex Value Advisors LLC grew its holdings in Vulcan Materials by 136.3% during the third quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock worth $89,117,000 after acquiring an additional 205,260 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 worth $184,353,000 after acquiring an additional 178,634 shares in the last quarter. Finally, Stockbridge Partners LLC lifted its holdings in Vulcan Materials by 9.6% in the 3rd quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company’s stock valued at $392,815,000 after acquiring an additional 137,365 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Up 1.0 %

NYSE:VMC opened at $277.61 on Friday. The business’s fifty day moving average price is $271.50 and its 200 day moving average price is $259.83. The firm has a market capitalization of $36.66 billion, a price-to-earnings ratio of 43.79, a PEG ratio of 2.16 and a beta of 0.83. 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 has a 1-year low of $221.01 and a 1-year high of $298.31.

Vulcan Materials (NYSE:VMC) last released 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). The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company’s revenue was down 8.3% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. On average, sell-side analysts forecast that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Raymond James cut their price objective on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. UBS Group started coverage on Vulcan Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective for the company. Finally, Truist Financial boosted their target price on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $301.18.

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.