Vulcan Materials (NYSE:VMC) Stake Raised by Point72 DIFC Ltd

Point72 DIFC Ltd increased its holdings in Vulcan Materials (NYSE:VMC) by 7,772.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,618 shares of the construction company’s stock after buying an additional 23,318 shares during the quarter. Point72 DIFC Ltd’s holdings in Vulcan Materials were worth $5,915,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VMC. Maven Securities LTD bought a new position in shares of Vulcan Materials in the third quarter worth $1,049,000. Investment Management Corp of Ontario lifted its holdings in Vulcan Materials by 46.8% in the third quarter. Investment Management Corp of Ontario now owns 4,391 shares of the construction company’s stock worth $1,100,000 after purchasing an additional 1,400 shares during the period. Centiva Capital LP grew its position in Vulcan Materials by 34.2% in the 3rd quarter. Centiva Capital LP now owns 4,025 shares of the construction company’s stock valued at $1,008,000 after buying an additional 1,025 shares in the last quarter. Ascent Group LLC increased its stake in Vulcan Materials by 63.1% during the 3rd quarter. Ascent Group LLC now owns 11,200 shares of the construction company’s stock valued at $2,805,000 after buying an additional 4,334 shares during the period. Finally, Benjamin Edwards Inc. bought a new stake in shares of Vulcan Materials during the 3rd quarter worth about $1,952,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Trading Down 0.2 %

Vulcan Materials stock opened at $286.54 on Wednesday. Vulcan Materials has a 52 week low of $210.85 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 has a market capitalization of $37.84 billion, a price-to-earnings ratio of 45.20, a P/E/G ratio of 2.78 and a beta of 0.81. The company has a 50 day moving average price of $266.71 and a 200 day moving average price of $255.54.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The business had revenue of $2 billion for 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 business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 EPS. Research analysts forecast that Vulcan Materials will post 7.16 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.64%. Vulcan Materials’s dividend payout ratio is 29.02%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Truist Financial boosted their target price on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada dropped their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Stephens lowered their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Citigroup cut their price target 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, UBS Group started coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.92.

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.