State of Alaska Department of Revenue Has $3.84 Million Holdings in Vulcan Materials (NYSE:VMC)

State of Alaska Department of Revenue lifted its holdings in shares of Vulcan Materials (NYSE:VMC) by 6.4% during the third quarter, Holdings Channel.com reports. 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 quarter.

A number of other hedge funds also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted 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. raised its stake in 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 buying an additional 2,615 shares during the last quarter. Ballentine Partners LLC raised its stake in 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 buying an additional 79 shares during the last quarter. Financial Partners Group LLC lifted its holdings in Vulcan Materials by 2.0% in the third quarter. Financial Partners Group LLC now owns 6,033 shares of the construction company’s stock valued at $1,511,000 after buying an additional 116 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Vulcan Materials by 79.2% in the third quarter. Assenagon Asset Management S.A. now owns 90,553 shares of the construction company’s stock valued at $22,677,000 after buying an additional 40,026 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $276.19 on Thursday. The firm’s 50-day moving average price is $246.87 and its 200-day moving average price is $252.02. Vulcan Materials has a 1-year low of $195.70 and a 1-year high of $279.47. 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 has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43.

Vulcan Materials (NYSE:VMC) last posted 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 return on equity of 12.19% and a net margin of 12.07%. The business 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 company earned $2.29 EPS. The company’s revenue was down 4.7% on a year-over-year basis. Equities research analysts anticipate that Vulcan Materials will post 7.58 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be issued a $0.46 dividend. 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 is presently 26.86%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Loop Capital dropped their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. StockNews.com lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, October 12th. Citigroup dropped their target price 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 dropped their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Royal Bank of Canada dropped 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average target price of $273.50.

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.