US Bancorp DE Cuts Stake in Vulcan Materials (NYSE:VMC)

US Bancorp DE reduced its position in Vulcan Materials (NYSE:VMC) by 6.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 42,645 shares of the construction company’s stock after selling 2,888 shares during the period. US Bancorp DE’s holdings in Vulcan Materials were worth $10,679,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in VMC. Capital World Investors purchased a new stake in shares of Vulcan Materials in the 1st quarter worth approximately $388,027,000. Vanguard Group Inc. lifted its holdings in Vulcan Materials by 5.0% during the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after buying an additional 755,991 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after acquiring an additional 330,433 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Vulcan Materials by 621.1% in the 1st quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock valued at $64,581,000 after acquiring an additional 203,166 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Vulcan Materials by 1,191.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,005 shares of the construction company’s stock worth $39,541,000 after acquiring an additional 146,695 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VMC shares. Truist Financial raised their price objective on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday. Barclays boosted their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Stephens lowered their target price 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. Finally, JPMorgan Chase & Co. reduced their price target 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. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.75.

Vulcan Materials Price Performance

NYSE VMC opened at $270.39 on Friday. The company has a market cap of $35.71 billion, a price-to-earnings ratio of 42.65, a PEG ratio of 2.60 and a beta of 0.80. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 1.66. The stock’s fifty day moving average price is $247.70 and its 200 day moving average price is $252.20. Vulcan Materials has a 1 year low of $206.02 and a 1 year high of $279.47.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company posted $2.29 earnings per share. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Vulcan Materials will post 7.32 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio is presently 29.02%.

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.