Daiwa Securities Group Inc. Sells 5,700 Shares of Vulcan Materials Company $VMC

Daiwa Securities Group Inc. cut its holdings in Vulcan Materials Company (NYSE:VMC) by 10.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 49,829 shares of the construction company’s stock after selling 5,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Vulcan Materials were worth $14,212,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VMC. Westside Investment Management Inc. lifted its stake in Vulcan Materials by 100.0% in the third quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after purchasing an additional 42 shares during the last quarter. NBT Bank N A NY bought a new stake in Vulcan Materials in the fourth quarter worth $26,000. Godsey & Gibb Inc. bought a new stake in Vulcan Materials in the fourth quarter worth $30,000. Measured Wealth Private Client Group LLC bought a new stake in Vulcan Materials in the third quarter worth $30,000. Finally, WPG Advisers LLC lifted its stake in Vulcan Materials by 56.4% in the fourth quarter. WPG Advisers LLC now owns 122 shares of the construction company’s stock worth $35,000 after purchasing an additional 44 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on VMC. Truist Financial boosted their price target 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. Royal Bank Of Canada upped their price objective on shares of Vulcan Materials from $296.00 to $298.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. DA Davidson lowered their price objective on shares of Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Berenberg Bank set a $283.00 price objective on shares of Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday. 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 issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $326.92.

Vulcan Materials Stock Performance

Shares of NYSE:VMC opened at $281.49 on Friday. The company has a market cap of $36.53 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05. The company has a 50-day moving average price of $281.77 and a 200-day moving average price of $290.24. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Announces Dividend

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

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.