Texas Permanent School Fund Corp Sells 5,495 Shares of Vulcan Materials (NYSE:VMC)

Texas Permanent School Fund Corp trimmed its position in Vulcan Materials (NYSE:VMC) by 20.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 21,973 shares of the construction company’s stock after selling 5,495 shares during the period. Texas Permanent School Fund Corp’s holdings in Vulcan Materials were worth $5,464,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Register Financial Advisors LLC bought a new position in shares of Vulcan Materials in the 1st quarter valued at $27,000. SouthState Corp lifted its stake in shares of Vulcan Materials by 669.2% in the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after acquiring an additional 87 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Vulcan Materials in the 2nd quarter valued at $27,000. Opal Wealth Advisors LLC bought a new position in shares of Vulcan Materials in the 1st quarter valued at $33,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of Vulcan Materials in the 1st quarter valued at $34,000. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $236.27 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $248.54 and a two-hundred day moving average price of $256.41. Vulcan Materials has a 1-year low of $190.51 and a 1-year high of $278.79. The company has a market cap of $31.20 billion, a P/E ratio of 34.49, a PEG ratio of 2.13 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 earnings per share. As a group, analysts anticipate that Vulcan Materials will post 7.82 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were paid a $0.46 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.78%. Vulcan Materials’s dividend payout ratio is presently 26.86%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VMC shares. Royal Bank of Canada lowered their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Loop Capital lowered their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Truist Financial lowered their target price on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Citigroup lowered their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Stephens lowered their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and an average price target of $274.73.

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.