Proactive Wealth Strategies LLC Makes New $2.76 Million Investment in Vulcan Materials (NYSE:VMC)

Proactive Wealth Strategies LLC acquired a new stake in Vulcan Materials (NYSE:VMC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,002 shares of the construction company’s stock, valued at approximately $2,755,000. Vulcan Materials makes up approximately 1.5% of Proactive Wealth Strategies LLC’s holdings, making the stock its 20th largest position.

Other hedge funds have also added to or reduced their stakes in the company. SouthState Corp lifted its stake in Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after acquiring an additional 87 shares during the last quarter. Kings Path Partners LLC bought a new position in Vulcan Materials during the second quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new position in Vulcan Materials during the third quarter worth approximately $30,000. UMB Bank n.a. raised its stake in Vulcan Materials by 61.8% in the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after buying an additional 47 shares during the period. Finally, Concord Wealth Partners acquired a new stake in shares of Vulcan Materials in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VMC. Stephens cut 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. UBS Group began coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective for the company. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Truist Financial lifted their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus target price of $280.46.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $292.04 on Tuesday. The stock has a 50-day moving average price of $252.67 and a two-hundred day moving average price of $253.36. Vulcan Materials has a 12 month low of $209.39 and a 12 month high of $298.31. The company has a market capitalization of $38.57 billion, a PE ratio of 46.06, a P/E/G ratio of 2.81 and a beta of 0.81. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.12). The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. During the same period in the prior year, the business earned $2.29 earnings per share. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. Analysts expect that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders 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 dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s dividend payout ratio is 29.02%.

Vulcan Materials 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.