Salomon & Ludwin LLC Increases Position in Vulcan Materials (NYSE:VMC)

Salomon & Ludwin LLC lifted its holdings in shares of Vulcan Materials (NYSE:VMC) by 100.0% in the third quarter, HoldingsChannel.com reports. The fund owned 318 shares of the construction company’s stock after acquiring an additional 159 shares during the period. Salomon & Ludwin LLC’s holdings in Vulcan Materials were worth $80,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of VMC. SouthState Corp increased its holdings in Vulcan Materials by 669.2% in the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after acquiring an additional 87 shares during the last quarter. Kings Path Partners LLC purchased a new stake in shares of Vulcan Materials during the 2nd quarter valued at approximately $27,000. 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 worth $31,000 after buying an additional 47 shares during the period. Concord Wealth Partners purchased a new position in Vulcan Materials in the 1st quarter valued at approximately $34,000. Finally, Manchester Capital Management LLC raised its holdings in Vulcan Materials by 1,218.2% during the 1st quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock valued at $40,000 after acquiring an additional 134 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VMC shares. Royal Bank of Canada reduced their price target 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. Citigroup lowered their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Stephens reduced their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Truist Financial lowered their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $272.45.

Vulcan Materials Stock Performance

NYSE VMC opened at $258.50 on Tuesday. The firm has a market cap of $34.14 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 2.35 and a beta of 0.82. The company has a 50-day simple moving average of $246.03 and a two-hundred day simple moving average of $251.88. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. Vulcan Materials has a 12-month low of $194.40 and a 12-month high of $278.79.

Vulcan Materials (NYSE:VMC) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. Vulcan Materials’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 earnings per share. On average, equities analysts forecast that Vulcan Materials will post 7.58 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s payout ratio is 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.