Forsta AP Fonden Reduces Stock Holdings in Vulcan Materials (NYSE:VMC)

Forsta AP Fonden cut its position in shares of Vulcan Materials (NYSE:VMC) by 8.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,400 shares of the construction company’s stock after selling 3,100 shares during the period. Forsta AP Fonden’s holdings in Vulcan Materials were worth $8,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of VMC. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Vulcan Materials by 37.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,573 shares of the construction company’s stock valued at $2,396,000 after acquiring an additional 2,615 shares during the last quarter. Ballentine Partners LLC raised its position in Vulcan Materials by 9.2% in the third quarter. Ballentine Partners LLC now owns 934 shares of the construction company’s stock valued at $234,000 after purchasing an additional 79 shares during the period. Financial Partners Group LLC lifted its stake in shares of Vulcan Materials by 2.0% in the 3rd quarter. Financial Partners Group LLC now owns 6,033 shares of the construction company’s stock valued at $1,511,000 after purchasing an additional 116 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Vulcan Materials by 79.2% during the 3rd 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. Finally, IFM Investors Pty Ltd increased its position in shares of Vulcan Materials by 15.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 32,289 shares of the construction company’s stock worth $8,086,000 after purchasing an additional 4,264 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VMC has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased 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 research report on Wednesday, August 7th. Citigroup lowered their price objective 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. JPMorgan Chase & Co. cut their target price on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Truist Financial lowered their price target 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. Finally, Loop Capital cut their price objective on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $272.45.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $256.54 on Monday. The stock’s 50-day simple moving average is $245.74 and its 200-day simple moving average is $251.93. The firm has a market capitalization of $33.93 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 2.32 and a beta of 0.82. Vulcan Materials has a fifty-two week low of $190.51 and a fifty-two week high of $278.79. 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 (NYSE:VMC) last issued its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.12). The company 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 company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.29 EPS. As a group, equities research analysts forecast that Vulcan Materials will post 7.62 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend 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.