Edge Capital Group LLC Cuts Position in Vulcan Materials (NYSE:VMC)

Edge Capital Group LLC reduced its position in shares of Vulcan Materials (NYSE:VMC) by 99.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 687 shares of the construction company’s stock after selling 179,302 shares during the period. Edge Capital Group LLC’s holdings in Vulcan Materials were worth $177,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after acquiring an additional 884,580 shares in the last quarter. Ceredex Value Advisors LLC increased its stake in Vulcan Materials by 136.3% during the third quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock worth $89,117,000 after purchasing an additional 205,260 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Vulcan Materials by 32.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company’s stock worth $184,353,000 after purchasing an additional 178,634 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Vulcan Materials by 67.9% in the fourth quarter. Artemis Investment Management LLP now owns 402,106 shares of the construction company’s stock valued at $103,434,000 after purchasing an additional 162,567 shares during the period. Finally, Stockbridge Partners LLC grew its holdings in shares of Vulcan Materials by 9.6% in the third quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company’s stock valued at $392,815,000 after purchasing an additional 137,365 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VMC shares. Truist Financial increased their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group started coverage on Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Stephens restated an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a report on Thursday, January 2nd. Finally, StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $304.55.

Vulcan Materials Price Performance

VMC stock opened at $251.45 on Tuesday. The business has a 50 day moving average price of $265.69 and a 200 day moving average price of $261.69. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. The stock has a market cap of $33.21 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 2.03 and a beta of 0.84. Vulcan Materials has a fifty-two week low of $225.36 and a fifty-two week high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.41. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the company earned $1.46 earnings per share. Equities research analysts anticipate that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a $0.49 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 0.78%. Vulcan Materials’s payout ratio is 28.61%.

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.