The Manufacturers Life Insurance Company Trims Holdings in Vulcan Materials (NYSE:VMC)

The Manufacturers Life Insurance Company lowered its stake in shares of Vulcan Materials (NYSE:VMC) by 74.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,431 shares of the construction company’s stock after selling 237,124 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Vulcan Materials were worth $19,892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. B. Riley Wealth Advisors Inc. bought a new stake in shares of Vulcan Materials in the 1st quarter worth about $282,000. Swedbank AB acquired a new stake in Vulcan Materials during the first quarter valued at approximately $519,000. Cetera Investment Advisers lifted its holdings in Vulcan Materials by 111.5% during the 1st quarter. Cetera Investment Advisers now owns 14,423 shares of the construction company’s stock worth $3,936,000 after buying an additional 7,603 shares during the last quarter. 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 acquiring an additional 2,245 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Vulcan Materials by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 21,224 shares of the construction company’s stock valued at $5,761,000 after acquiring an additional 1,692 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $288.13 on Friday. The stock has a market cap of $38.05 billion, a P/E ratio of 45.45, a P/E/G ratio of 2.77 and a beta of 0.81. The firm’s 50-day simple moving average is $265.28 and its 200 day simple moving average is $255.27. Vulcan Materials has a fifty-two week low of $209.60 and a fifty-two week high of $298.31. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 earnings per share. Equities analysts expect that Vulcan Materials will post 7.16 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Monday, November 4th. Vulcan Materials’s payout ratio is currently 29.02%.

Analyst Ratings Changes

VMC has been the subject of a number of research reports. StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Truist Financial boosted their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 1st. UBS Group assumed coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 target price on the stock. Royal Bank of Canada lowered 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. Finally, Citigroup cut their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $283.92.

Vulcan Materials Company 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.