MetLife Investment Management LLC Has $8.99 Million Stake in Vulcan Materials (NYSE:VMC)

MetLife Investment Management LLC cut its holdings in shares of Vulcan Materials (NYSE:VMC) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,896 shares of the construction company’s stock after selling 964 shares during the period. MetLife Investment Management LLC’s holdings in Vulcan Materials were worth $8,989,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cetera Advisors LLC grew its holdings in shares of Vulcan Materials by 118.1% during the first quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock worth $1,132,000 after purchasing an additional 2,245 shares during the last quarter. Mather Group LLC. increased its position in Vulcan Materials by 16.1% in the 2nd quarter. Mather Group LLC. now owns 491 shares of the construction company’s stock valued at $134,000 after acquiring an additional 68 shares in the last quarter. Raymond James & Associates raised its stake in shares of Vulcan Materials by 3.0% in the second quarter. Raymond James & Associates now owns 202,539 shares of the construction company’s stock worth $50,367,000 after acquiring an additional 5,979 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Vulcan Materials by 87.1% during the first quarter. Tidal Investments LLC now owns 9,591 shares of the construction company’s stock worth $2,618,000 after purchasing an additional 4,466 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Vulcan Materials by 62.1% during the first quarter. Janus Henderson Group PLC now owns 30,226 shares of the construction company’s stock valued at $8,247,000 after purchasing an additional 11,583 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VMC. Stephens reduced their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. UBS Group began coverage on Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target on the stock. StockNews.com upgraded shares of 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 shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup cut their price objective 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. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and an average price target of $283.92.

Vulcan Materials Price Performance

VMC opened at $286.39 on Friday. The company has a fifty day simple moving average of $264.56 and a 200 day simple moving average of $255.23. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The stock has a market cap of $37.82 billion, a P/E ratio of 45.17, a P/E/G ratio of 2.77 and a beta of 0.81. Vulcan Materials has a 12 month low of $209.60 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. On average, research analysts expect that Vulcan Materials will post 7.16 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 4th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.64%. Vulcan Materials’s 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.