Princeton Capital Management LLC Reduces Stake in Vulcan Materials (NYSE:VMC)

Princeton Capital Management LLC reduced its holdings in Vulcan Materials (NYSE:VMC) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,856 shares of the construction company’s stock after selling 82 shares during the quarter. Princeton Capital Management LLC’s holdings in Vulcan Materials were worth $465,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cetera Advisors LLC grew its position in shares of Vulcan Materials by 118.1% in the 1st quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock worth $1,132,000 after buying an additional 2,245 shares during the last quarter. Mather Group LLC. lifted its stake in shares of 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 purchasing an additional 68 shares during the period. Raymond James & Associates lifted its stake in shares of Vulcan Materials by 3.0% in the 2nd quarter. Raymond James & Associates now owns 202,539 shares of the construction company’s stock valued at $50,367,000 after purchasing an additional 5,979 shares during the period. Tidal Investments LLC lifted its stake in shares of Vulcan Materials by 87.1% in the 1st quarter. Tidal Investments LLC now owns 9,591 shares of the construction company’s stock valued at $2,618,000 after purchasing an additional 4,466 shares during the period. Finally, California State Teachers Retirement System lifted its stake in shares of Vulcan Materials by 3.3% in the 1st quarter. California State Teachers Retirement System now owns 237,309 shares of the construction company’s stock valued at $64,766,000 after purchasing an additional 7,552 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VMC has been the subject of a number of research analyst reports. Citigroup lowered their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Stephens lowered their price objective on 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 assumed coverage on Vulcan Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada decreased their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $280.46.

Vulcan Materials Stock Performance

Shares of VMC opened at $278.74 on Tuesday. Vulcan Materials has a 12 month low of $209.39 and a 12 month high of $298.31. The stock has a fifty day moving average price of $257.61 and a 200-day moving average price of $254.15. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The firm has a market cap of $36.81 billion, a PE ratio of 43.97, a P/E/G ratio of 2.68 and a beta of 0.81.

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

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be paid a $0.46 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a yield of 0.66%. Vulcan Materials’s dividend payout ratio (DPR) 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.