State of Alaska Department of Revenue Buys 925 Shares of Vulcan Materials (NYSE:VMC)

State of Alaska Department of Revenue raised its stake in Vulcan Materials (NYSE:VMC) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,341 shares of the construction company’s stock after acquiring an additional 925 shares during the quarter. State of Alaska Department of Revenue’s holdings in Vulcan Materials were worth $3,841,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VMC. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Vulcan Materials by 16.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,086 shares of the construction company’s stock worth $2,275,000 after purchasing an additional 1,302 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Vulcan Materials by 37.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,573 shares of the construction company’s stock worth $2,396,000 after purchasing an additional 2,615 shares during the period. Ballentine Partners LLC increased its holdings in shares of Vulcan Materials by 9.2% during the third quarter. Ballentine Partners LLC now owns 934 shares of the construction company’s stock worth $234,000 after purchasing an additional 79 shares during the period. Financial Partners Group LLC increased its holdings in shares of Vulcan Materials by 2.0% during the third quarter. Financial Partners Group LLC now owns 6,033 shares of the construction company’s stock worth $1,511,000 after purchasing an additional 116 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Vulcan Materials by 79.2% during the third quarter. Assenagon Asset Management S.A. now owns 90,553 shares of the construction company’s stock worth $22,677,000 after purchasing an additional 40,026 shares during the period. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VMC. JPMorgan Chase & Co. lowered their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada lowered their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Stephens reduced their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Truist Financial reduced their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Loop Capital reduced their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $273.50.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $276.19 on Thursday. Vulcan Materials has a fifty-two week low of $195.70 and a fifty-two week high of $279.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. The firm has a market capitalization of $36.47 billion, a P/E ratio of 40.32, a P/E/G ratio of 2.35 and a beta of 0.82. The company’s 50 day moving average price is $246.87 and its two-hundred day moving average price is $252.02.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business earned $2.29 EPS. The business’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities analysts forecast that Vulcan Materials will post 7.58 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.67%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

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.