Daiwa Securities Group Inc. Grows Position in Vulcan Materials (NYSE:VMC)

Daiwa Securities Group Inc. increased its holdings in Vulcan Materials (NYSE:VMC) by 14.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 33,594 shares of the construction company’s stock after buying an additional 4,295 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Vulcan Materials were worth $8,354,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Vulcan Materials by 5.0% during the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after purchasing an additional 755,991 shares during the last quarter. Principal Financial Group Inc. raised its stake in Vulcan Materials by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 4,494,455 shares of the construction company’s stock valued at $1,226,627,000 after buying an additional 83,601 shares during the last quarter. Capital World Investors bought a new position in shares of Vulcan Materials during the 1st quarter valued at $388,027,000. Norges Bank purchased a new position in shares of Vulcan Materials in the 4th quarter worth $282,528,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of Vulcan Materials by 271.0% in the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock worth $186,861,000 after acquiring an additional 601,268 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on VMC shares. Loop Capital lowered their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Stephens lowered their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada cut their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Citigroup reduced their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Truist Financial dropped their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and an average price target of $274.73.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock opened at $232.95 on Wednesday. The company has a market capitalization of $30.76 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 2.13 and a beta of 0.82. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $248.90 and its 200-day simple moving average is $256.72. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $278.79.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts expect that Vulcan Materials will post 7.82 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid a dividend of $0.46 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.84 annualized dividend and a yield of 0.79%. Vulcan Materials’s payout ratio is 26.86%.

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.