First Trust Direct Indexing L.P. Grows Stock Holdings in Vulcan Materials (NYSE:VMC)

First Trust Direct Indexing L.P. raised its position in shares of Vulcan Materials (NYSE:VMC) by 2.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,110 shares of the construction company’s stock after purchasing an additional 114 shares during the period. First Trust Direct Indexing L.P.’s holdings in Vulcan Materials were worth $1,280,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in VMC. Vanguard Group Inc. increased its holdings in shares of Vulcan Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after buying an additional 755,991 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Vulcan Materials by 18.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after buying an additional 330,433 shares during the period. Capital World Investors purchased a new position in shares of Vulcan Materials in the first quarter worth about $388,027,000. Vontobel Holding Ltd. increased its holdings in shares of Vulcan Materials by 7.1% in the third quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock worth $342,971,000 after buying an additional 91,318 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Vulcan Materials by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock worth $331,404,000 after buying an additional 43,294 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VMC. Barclays boosted their price target on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday. Stephens reduced their price target on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Truist Financial reduced their price target on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Citigroup cut their price objective on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.50.

Vulcan Materials Stock Performance

Shares of VMC opened at $273.94 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average price is $247.39 and its 200-day moving average price is $252.18. Vulcan Materials has a 52 week low of $195.70 and a 52 week high of $279.47. The stock has a market cap of $36.18 billion, a P/E ratio of 43.21, a P/E/G ratio of 2.60 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) 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). The business had revenue of $2 billion during 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 last year, the company posted $2.29 earnings per share. Equities research analysts anticipate that Vulcan Materials will post 7.39 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.67%. Vulcan Materials’s dividend payout ratio (DPR) is presently 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.