Vulcan Materials (NYSE:VMC) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC lifted its holdings in Vulcan Materials (NYSE:VMC) by 6.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,283 shares of the construction company’s stock after purchasing an additional 926 shares during the quarter. Procyon Advisors LLC’s holdings in Vulcan Materials were worth $3,696,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of VMC. JPMorgan Chase & Co. boosted its stake in shares of Vulcan Materials by 47.4% in the third quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock valued at $909,794,000 after buying an additional 1,447,700 shares in the last quarter. Norges Bank purchased a new stake in Vulcan Materials during the fourth quarter worth $217,300,000. Wellington Management Group LLP boosted its position in Vulcan Materials by 30,160.4% during the third quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company’s stock worth $109,365,000 after purchasing an additional 539,570 shares in the last quarter. Palestra Capital Management LLC boosted its position in Vulcan Materials by 68.9% during the third quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company’s stock worth $113,195,000 after purchasing an additional 228,510 shares in the last quarter. Finally, Barclays PLC boosted its position in Vulcan Materials by 98.7% during the second quarter. Barclays PLC now owns 427,683 shares of the construction company’s stock worth $96,416,000 after purchasing an additional 212,432 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

VMC has been the topic of a number of research analyst reports. Wolfe Research downgraded Vulcan Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Raymond James boosted their target price on Vulcan Materials from $225.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $270.00 price target (up from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. Truist Financial boosted their price target on Vulcan Materials from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Finally, Stifel Nicolaus boosted their price target on Vulcan Materials from $260.00 to $279.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus target price of $262.54.

Insiders Place Their Bets

In other Vulcan Materials news, SVP Denson N. Franklin III sold 3,200 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total transaction of $862,336.00. Following the completion of the sale, the senior vice president now directly owns 5,395 shares in the company, valued at $1,453,844.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Stanley G. Bass sold 8,310 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $251.68, for a total value of $2,091,460.80. Following the completion of the sale, the insider now owns 29,311 shares of the company’s stock, valued at $7,376,992.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Denson N. Franklin III sold 3,200 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total value of $862,336.00. Following the completion of the sale, the senior vice president now directly owns 5,395 shares of the company’s stock, valued at approximately $1,453,844.60. The disclosure for this sale can be found here. Insiders sold 13,017 shares of company stock worth $3,344,741 over the last three months. 0.62% of the stock is owned by insiders.

Vulcan Materials Trading Up 0.2 %

Vulcan Materials stock traded up $0.60 during trading on Thursday, hitting $273.39. The company’s stock had a trading volume of 38,332 shares, compared to its average volume of 818,476. The stock has a market capitalization of $36.16 billion, a price-to-earnings ratio of 39.08, a P/E/G ratio of 2.00 and a beta of 0.83. The stock’s fifty day moving average is $250.24 and its 200 day moving average is $226.01. Vulcan Materials has a 1-year low of $162.00 and a 1-year high of $276.58. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.39 and a current ratio of 3.17.

Vulcan Materials (NYSE:VMC) last released its earnings results on Friday, February 16th. The construction company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.40 by $0.06. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.84 billion. Vulcan Materials had a return on equity of 12.80% and a net margin of 11.99%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 earnings per share. As a group, equities research analysts predict that Vulcan Materials will post 8.36 EPS for the current year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 0.67%. Vulcan Materials’s dividend payout ratio is currently 26.36%.

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.