abrdn plc Purchases 22,114 Shares of Vulcan Materials (NYSE:VMC)

abrdn plc grew its position in Vulcan Materials (NYSE:VMC) by 65.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,031 shares of the construction company’s stock after purchasing an additional 22,114 shares during the quarter. abrdn plc’s holdings in Vulcan Materials were worth $12,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of VMC. Exchange Traded Concepts LLC bought a new position in shares of Vulcan Materials in the fourth quarter worth approximately $28,000. Covestor Ltd lifted its holdings in shares of Vulcan Materials by 273.4% in the third quarter. Covestor Ltd now owns 295 shares of the construction company’s stock worth $60,000 after buying an additional 216 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Vulcan Materials in the fourth quarter worth $62,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Vulcan Materials by 48.9% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 326 shares of the construction company’s stock worth $74,000 after buying an additional 107 shares in the last quarter. Finally, PGGM Investments purchased a new position in shares of Vulcan Materials in the third quarter worth $148,000. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $258.54 on Friday. Vulcan Materials has a 52-week low of $166.43 and a 52-week high of $276.58. The firm has a market capitalization of $34.20 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 1.86 and a beta of 0.83. The company has a fifty day simple moving average of $264.73 and a 200-day simple moving average of $234.37. The company has a quick ratio of 2.39, a current ratio of 3.17 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC) last released its earnings results on Friday, February 16th. The construction company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. Vulcan Materials had a net margin of 11.99% and a return on equity of 12.80%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts anticipate that Vulcan Materials will post 8.43 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were given a dividend of $0.46 per share. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, March 1st. This represents a $1.84 annualized dividend and a dividend yield of 0.71%. Vulcan Materials’s payout ratio is presently 26.36%.

Insider Activity

In other news, insider Stanley G. Bass sold 8,310 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total transaction of $2,091,460.80. Following the transaction, the insider now owns 29,311 shares of the company’s stock, valued at approximately $7,376,992.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Stanley G. Bass sold 8,310 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total transaction of $2,091,460.80. Following the sale, the insider now owns 29,311 shares of the company’s stock, valued at $7,376,992.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Randy L. Pigg sold 307 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total transaction of $78,367.89. Following the sale, the vice president now directly owns 1,896 shares in the company, valued at approximately $483,991.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,017 shares of company stock valued at $3,344,741. 0.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VMC. Royal Bank of Canada boosted their target price on shares of Vulcan Materials from $236.00 to $269.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 20th. Morgan Stanley initiated coverage on shares of Vulcan Materials in a report on Monday, January 8th. They issued an “equal weight” rating and a $208.00 target price on the stock. Jefferies Financial Group upped their price target on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Citigroup upped their price target on shares of Vulcan Materials from $263.00 to $322.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, The Goldman Sachs Group upped their price target on shares of Vulcan Materials from $264.00 to $292.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and an average price target of $273.00.

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.