Meeder Asset Management Inc. Decreases Position in Vulcan Materials (NYSE:VMC)

Meeder Asset Management Inc. lessened its holdings in Vulcan Materials (NYSE:VMC) by 90.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,736 shares of the construction company’s stock after selling 24,608 shares during the quarter. Meeder Asset Management Inc.’s holdings in Vulcan Materials were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. increased its position in shares of Vulcan Materials by 1.6% in the first quarter. Contravisory Investment Management Inc. now owns 2,579 shares of the construction company’s stock valued at $704,000 after acquiring an additional 40 shares during the period. Commerce Bank increased its position in shares of Vulcan Materials by 1.0% in the fourth quarter. Commerce Bank now owns 4,442 shares of the construction company’s stock valued at $1,008,000 after acquiring an additional 43 shares during the period. UMB Bank n.a. increased 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 valued at $31,000 after acquiring an additional 47 shares during the period. Monetary Management Group Inc. increased its position in shares of Vulcan Materials by 2.3% in the second quarter. Monetary Management Group Inc. now owns 2,250 shares of the construction company’s stock valued at $560,000 after acquiring an additional 50 shares during the period. Finally, Covestor Ltd increased its position in shares of Vulcan Materials by 13.6% in the first quarter. Covestor Ltd now owns 425 shares of the construction company’s stock valued at $116,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Up 0.5 %

NYSE:VMC opened at $237.47 on Friday. Vulcan Materials has a one year low of $190.51 and a one year high of $278.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. The company’s 50-day simple moving average is $248.40 and its 200 day simple moving average is $256.25. The firm has a market capitalization of $31.41 billion, a P/E ratio of 34.67, a PEG ratio of 2.16 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 EPS. As a group, analysts forecast that Vulcan Materials will post 7.73 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were issued a $0.46 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.84 annualized dividend and a yield of 0.77%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Analysts Set New Price Targets

VMC has been the topic of a number of analyst reports. Loop Capital decreased their price objective on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Citigroup cut their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada cut their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Stephens cut their target price 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, Truist Financial cut their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and a consensus target price of $274.73.

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.