Quantbot Technologies LP Raises Stock Position in Vulcan Materials (NYSE:VMC)

Quantbot Technologies LP raised its holdings in Vulcan Materials (NYSE:VMC) by 622.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 29,302 shares of the construction company’s stock after acquiring an additional 25,246 shares during the period. Quantbot Technologies LP’s holdings in Vulcan Materials were worth $7,338,000 as of its most recent filing with the SEC.

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

Vulcan Materials Stock Performance

VMC opened at $290.34 on Tuesday. Vulcan Materials has a twelve month low of $209.60 and a twelve month high of $298.31. The firm has a market capitalization of $38.34 billion, a PE ratio of 45.79, a PEG ratio of 2.75 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. The firm’s 50-day moving average price is $262.20 and its 200 day moving average price is $254.67.

Vulcan Materials (NYSE:VMC) last issued its earnings results 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). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders 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 is Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is presently 29.02%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VMC shares. UBS Group initiated coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Truist Financial increased their target price on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stephens dropped their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Barclays upped their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $280.46.

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.