Eads & Heald Wealth Management Decreases Stock Holdings in Vulcan Materials (NYSE:VMC)

Eads & Heald Wealth Management reduced its position in shares of Vulcan Materials (NYSE:VMC) by 1.8% in the third quarter, Holdings Channel reports. The fund owned 6,442 shares of the construction company’s stock after selling 120 shares during the quarter. Eads & Heald Wealth Management’s holdings in Vulcan Materials were worth $1,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SouthState Corp lifted its position in Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Vulcan Materials in the 2nd quarter valued at about $27,000. UMB Bank n.a. grew 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 acquiring an additional 47 shares in the last quarter. Concord Wealth Partners bought a new stake in Vulcan Materials during the third quarter worth approximately $35,000. Finally, Manchester Capital Management LLC raised its position in Vulcan Materials by 1,218.2% during the first quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock valued at $40,000 after purchasing an additional 134 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Performance

Shares of NYSE:VMC opened at $270.39 on Friday. The firm’s 50 day simple moving average is $247.70 and its 200-day simple moving average is $252.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 2.86. Vulcan Materials has a one year low of $206.02 and a one year high of $279.47. The firm has a market cap of $35.71 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 2.60 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last released 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 return on equity of 11.88% and a net margin of 11.43%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, equities analysts predict that Vulcan Materials will post 7.32 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently disclosed 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. This represents a $1.84 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is presently 29.02%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VMC shares. Royal Bank of Canada dropped their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Citigroup dropped their price objective on shares of 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 reduced 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. JPMorgan Chase & Co. lowered their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Truist Financial upped their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $274.75.

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.