Erste Asset Management GmbH Reduces Holdings in Vulcan Materials Company $VMC

Erste Asset Management GmbH trimmed its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 45.1% in the 4th quarter, Holdings Channel reports. The firm owned 5,844 shares of the construction company’s stock after selling 4,800 shares during the quarter. Erste Asset Management GmbH’s holdings in Vulcan Materials were worth $1,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in VMC. Lone Pine Capital LLC bought a new stake in shares of Vulcan Materials during the third quarter worth $425,938,000. Norges Bank bought a new stake in shares of Vulcan Materials during the fourth quarter worth $383,613,000. Egerton Capital UK LLP bought a new stake in shares of Vulcan Materials during the fourth quarter worth $273,861,000. Assenagon Asset Management S.A. lifted its position in shares of Vulcan Materials by 993.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock worth $113,126,000 after purchasing an additional 360,368 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of Vulcan Materials during the third quarter worth $98,911,000. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Performance

VMC stock opened at $279.33 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. The business has a 50-day moving average price of $282.20 and a 200 day moving average price of $290.19. The company has a market capitalization of $36.25 billion, a P/E ratio of 33.21, a PEG ratio of 1.95 and a beta of 1.05. Vulcan Materials Company has a 1-year low of $252.35 and a 1-year high of $331.09.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.25. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share. As a group, equities research analysts forecast that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, May 22nd. Vulcan Materials’s payout ratio is presently 24.73%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VMC. Berenberg Bank set a $283.00 target price on Vulcan Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Morgan Stanley decreased their target price on Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Truist Financial lifted their target price on Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Barclays lifted their target price on Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Raymond James Financial set a $325.00 target price on Vulcan Materials in a research report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Vulcan Materials has a consensus rating of “Hold” and an average target price of $326.92.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.