Oppenheimer Asset Management Inc. Purchases 237 Shares of Vulcan Materials (NYSE:VMC)

Oppenheimer Asset Management Inc. boosted its position in Vulcan Materials (NYSE:VMC) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,722 shares of the construction company’s stock after purchasing an additional 237 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Vulcan Materials were worth $1,433,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp lifted its holdings in shares of Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after buying an additional 87 shares in the last quarter. Kings Path Partners LLC acquired a new stake in Vulcan Materials in the 2nd quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in Vulcan Materials in the 3rd quarter worth about $30,000. UMB Bank n.a. boosted its holdings in Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after purchasing an additional 47 shares during the period. Finally, Concord Wealth Partners acquired a new position in shares of Vulcan Materials during the 3rd quarter worth approximately $35,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VMC has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. UBS Group began coverage on Vulcan Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target on the stock. Citigroup reduced their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Barclays lifted their target price 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus price target of $280.46.

Vulcan Materials Trading Down 1.2 %

NYSE:VMC opened at $279.28 on Monday. Vulcan Materials has a 52 week low of $209.39 and a 52 week high of $298.31. The firm’s fifty day moving average is $256.67 and its 200-day moving average is $254.05. The firm has a market cap of $36.88 billion, a P/E ratio of 44.05, a P/E/G ratio of 2.68 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the business posted $2.29 earnings per share. The business’s revenue was down 8.3% on a year-over-year basis. Equities analysts expect that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is presently 29.02%.

Vulcan Materials 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.