Sumitomo Life Insurance Co. Has $9.55 Million Stake in Vulcan Materials Company $VMC

Sumitomo Life Insurance Co. lifted its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 30.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,494 shares of the construction company’s stock after buying an additional 7,741 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Vulcan Materials were worth $9,553,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Lone Pine Capital LLC bought a new position in Vulcan Materials during the 3rd quarter worth approximately $425,938,000. Norges Bank bought a new position in Vulcan Materials during the 4th quarter worth approximately $383,613,000. Egerton Capital UK LLP bought a new position in Vulcan Materials during the 4th quarter worth approximately $273,861,000. Assenagon Asset Management S.A. boosted its stake in Vulcan Materials by 993.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock worth $113,126,000 after acquiring an additional 360,368 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new position in Vulcan Materials during the 3rd quarter worth approximately $98,911,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of VMC opened at $286.21 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09. The firm’s 50 day moving average price is $282.62 and its two-hundred day moving average price is $290.02. The firm has a market cap of $37.14 billion, a P/E ratio of 34.03, a PEG ratio of 2.02 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. On average, analysts forecast that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials’s payout ratio is presently 24.73%.

Analysts Set New Price Targets

Several research analysts recently weighed in on VMC shares. Truist Financial lifted their price objective on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price objective (down from $335.00) on shares of Vulcan Materials in a research note on Wednesday, March 4th. Morgan Stanley reduced their price objective on shares of Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Berenberg Bank set a $283.00 price objective on shares of Vulcan Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Finally, Raymond James Financial set a $325.00 price objective on shares of Vulcan Materials in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $326.92.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.