Arete Wealth Advisors LLC Increases Stock Position in Vulcan Materials (NYSE:VMC)

Arete Wealth Advisors LLC lifted its position in shares of Vulcan Materials (NYSE:VMC) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,155 shares of the construction company’s stock after purchasing an additional 146 shares during the period. Arete Wealth Advisors LLC’s holdings in Vulcan Materials were worth $536,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SouthState Corp lifted its position in shares of Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after buying an additional 87 shares in the last quarter. Kings Path Partners LLC purchased a new stake in shares of Vulcan Materials during the second quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Vulcan Materials during the third quarter worth $30,000. UMB Bank n.a. boosted its position in Vulcan Materials by 61.8% in the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after purchasing an additional 47 shares during the last quarter. Finally, Concord Wealth Partners bought a new position in Vulcan Materials in the 3rd quarter valued at $35,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Truist Financial lifted their price objective 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. Barclays increased their target price on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on shares of Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Finally, UBS Group started coverage on Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective for the company. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.92.

Vulcan Materials Stock Performance

Shares of VMC opened at $278.25 on Friday. Vulcan Materials has a 52-week low of $218.37 and a 52-week high of $298.31. The stock’s 50-day simple moving average is $270.88 and its 200 day simple moving average is $256.53. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The stock has a market capitalization of $36.75 billion, a price-to-earnings ratio of 43.89, a price-to-earnings-growth ratio of 2.70 and a beta of 0.81.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). The firm had revenue of $2 billion during 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 firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.29 earnings per share. Research analysts forecast that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Monday, November 4th. Vulcan Materials’s payout ratio is 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.