Vulcan Materials (NYSE:VMC) Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. raised its holdings in shares of Vulcan Materials (NYSE:VMC) by 123.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,242 shares of the construction company’s stock after buying an additional 15,584 shares during the period. Sumitomo Life Insurance Co.’s holdings in Vulcan Materials were worth $7,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. R Squared Ltd purchased a new position in Vulcan Materials during the 4th quarter worth $121,000. Deane Retirement Strategies Inc. grew its stake in shares of Vulcan Materials by 161.6% during the fourth quarter. Deane Retirement Strategies Inc. now owns 17,301 shares of the construction company’s stock worth $4,450,000 after acquiring an additional 10,688 shares during the last quarter. BSW Wealth Partners increased its holdings in shares of Vulcan Materials by 4.4% during the fourth quarter. BSW Wealth Partners now owns 1,487 shares of the construction company’s stock valued at $383,000 after acquiring an additional 63 shares in the last quarter. Griffin Asset Management Inc. raised its position in shares of Vulcan Materials by 3.4% in the 4th quarter. Griffin Asset Management Inc. now owns 6,743 shares of the construction company’s stock valued at $1,735,000 after purchasing an additional 220 shares during the last quarter. Finally, United Asset Strategies Inc. boosted its stake in Vulcan Materials by 3.3% in the 4th quarter. United Asset Strategies Inc. now owns 3,869 shares of the construction company’s stock worth $995,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $275.13 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. The stock has a market capitalization of $36.33 billion, a price-to-earnings ratio of 43.40, a PEG ratio of 2.16 and a beta of 0.83. The firm’s 50 day simple moving average is $271.42 and its 200-day simple moving average is $260.18. Vulcan Materials has a 12 month low of $222.09 and a 12 month high of $298.31.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on VMC shares. Barclays raised their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Raymond James lowered their price target on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. Stephens reissued an “overweight” rating and issued a $325.00 price objective on shares of Vulcan Materials in a report on Thursday, January 2nd. Truist Financial raised their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup dropped their target price on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $301.18.

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.