Meeder Asset Management Inc. Increases Stock Holdings in Vulcan Materials (NYSE:VMC)

Meeder Asset Management Inc. boosted its stake in shares of Vulcan Materials (NYSE:VMC) by 32.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,613 shares of the construction company’s stock after buying an additional 877 shares during the period. Meeder Asset Management Inc.’s holdings in Vulcan Materials were worth $905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. SouthState Corp increased its position in Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after acquiring an additional 87 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Vulcan Materials during the 2nd quarter worth about $27,000. Ashton Thomas Securities LLC bought a new position in Vulcan Materials during the 3rd quarter valued at about $30,000. UMB Bank n.a. raised its position in Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after purchasing an additional 47 shares during the period. Finally, Concord Wealth Partners bought a new stake in Vulcan Materials in the third quarter worth about $35,000. 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 recently commented on VMC shares. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada cut their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. UBS Group initiated coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target on the stock. Finally, Truist Financial lifted their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus price target of $280.46.

Vulcan Materials Price Performance

NYSE VMC opened at $278.01 on Wednesday. The company has a market cap of $36.71 billion, a PE ratio of 43.85, a P/E/G ratio of 2.68 and a beta of 0.81. Vulcan Materials has a 52-week low of $209.39 and a 52-week high of $298.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The firm’s 50 day moving average price is $258.51 and its 200-day moving average price is $254.25.

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 analysts’ expectations of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 earnings per share. Sell-side analysts forecast that Vulcan Materials will post 7.2 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a yield of 0.66%. Vulcan Materials’s dividend payout ratio is presently 29.02%.

About Vulcan Materials

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.