Daiwa Securities Group Inc. Acquires 1,373 Shares of Vulcan Materials (NYSE:VMC)

Daiwa Securities Group Inc. increased its stake in shares of Vulcan Materials (NYSE:VMC) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,967 shares of the construction company’s stock after purchasing an additional 1,373 shares during the period. Daiwa Securities Group Inc.’s holdings in Vulcan Materials were worth $8,757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of VMC. Principal Financial Group Inc. lifted its stake in Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after buying an additional 884,580 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Vulcan Materials by 18.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after buying an additional 330,433 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Vulcan Materials by 7.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock valued at $342,971,000 after purchasing an additional 91,318 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Vulcan Materials by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock valued at $331,404,000 after buying an additional 43,294 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Vulcan Materials by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 830,470 shares of the construction company’s stock valued at $207,975,000 after purchasing an additional 11,125 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VMC shares. JPMorgan Chase & Co. lowered their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Stephens lowered their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada decreased their price target 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 decreased their price target 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. Finally, Truist Financial raised their price objective on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and an average price target of $280.46.

Vulcan Materials Stock Performance

NYSE:VMC opened at $290.34 on Tuesday. The firm has a market capitalization of $38.34 billion, a PE ratio of 45.79, a P/E/G ratio of 2.75 and a beta of 0.81. Vulcan Materials has a 52-week low of $209.60 and a 52-week high of $298.31. The stock has a 50-day simple moving average of $262.20 and a two-hundred day simple moving average of $254.67. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86.

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

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.63%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s payout ratio is currently 29.02%.

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.