Artemis Investment Management LLP Buys 12,543 Shares of Vulcan Materials (NYSE:VMC)

Artemis Investment Management LLP grew its holdings in Vulcan Materials (NYSE:VMC) by 5.5% in the 3rd quarter, Holdings Channel reports. The fund owned 239,539 shares of the construction company’s stock after purchasing an additional 12,543 shares during the quarter. Artemis Investment Management LLP’s holdings in Vulcan Materials were worth $59,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its holdings in Vulcan Materials by 16.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,913 shares of the construction company’s stock valued at $661,000 after purchasing an additional 410 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its position in shares of Vulcan Materials by 4.4% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 11,596 shares of the construction company’s stock worth $2,632,000 after purchasing an additional 484 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Vulcan Materials in the 4th quarter valued at about $7,346,000. Nebula Research & Development LLC bought a new stake in Vulcan Materials in the fourth quarter valued at approximately $778,000. Finally, Point72 Asset Management L.P. raised its position in shares of Vulcan Materials by 271.0% during the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock worth $186,861,000 after purchasing an additional 601,268 shares during the period. 90.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Stephens lowered their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Loop Capital dropped their price objective on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Royal Bank of Canada reduced their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Citigroup dropped their price target on shares of 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, Truist Financial cut their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $274.73.

Vulcan Materials Price Performance

Shares of VMC opened at $238.09 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.66 and a current ratio of 2.48. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $278.79. The business’s 50 day moving average price is $245.89 and its two-hundred day moving average price is $253.69. The firm has a market cap of $31.44 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Vulcan Materials will post 7.73 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Thursday, August 15th. Vulcan Materials’s payout ratio is currently 26.86%.

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.