Delta Global Management LP Boosts Position in Vulcan Materials Company $VMC

Delta Global Management LP boosted its holdings in Vulcan Materials Company (NYSE:VMC) by 55.1% in the third quarter, HoldingsChannel.com reports. The firm owned 8,395 shares of the construction company’s stock after buying an additional 2,981 shares during the quarter. Delta Global Management LP’s holdings in Vulcan Materials were worth $2,582,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in VMC. Principal Financial Group Inc. raised its stake in Vulcan Materials by 5.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company’s stock worth $2,345,703,000 after acquiring an additional 414,828 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Vulcan Materials by 12.3% in the second quarter. JPMorgan Chase & Co. now owns 7,824,987 shares of the construction company’s stock valued at $2,040,914,000 after acquiring an additional 857,210 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Vulcan Materials by 104.3% during the third quarter. Commonwealth Equity Services LLC now owns 72,113 shares of the construction company’s stock worth $22,183,000 after purchasing an additional 36,823 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Vulcan Materials by 19.3% during the second quarter. American Century Companies Inc. now owns 256,789 shares of the construction company’s stock worth $66,976,000 after purchasing an additional 41,504 shares during the last quarter. Finally, EFG Asset Management North America Corp. acquired a new stake in shares of Vulcan Materials during the third quarter worth about $1,232,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Price Performance

Shares of VMC opened at $265.50 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. Vulcan Materials Company has a fifty-two week low of $218.87 and a fifty-two week high of $331.09. The firm has a 50-day simple moving average of $302.31 and a 200-day simple moving average of $296.85. The company has a market capitalization of $34.67 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 1.85 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.41). The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.95 billion. Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.17 EPS. On average, equities research analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 9th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. Vulcan Materials’s dividend payout ratio is presently 25.62%.

Analyst Ratings Changes

Several analysts have recently weighed in on VMC shares. Citigroup boosted their target price on Vulcan Materials from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Morgan Stanley raised their price target on Vulcan Materials from $321.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Monday, March 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 price objective (down from $335.00) on shares of Vulcan Materials in a research note on Wednesday, March 4th. B. Riley Financial assumed coverage on Vulcan Materials in a report on Thursday, January 15th. They issued a “buy” rating and a $345.00 price objective for the company. Finally, Truist Financial raised their target price on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.29.

Insider Activity

In other news, Director Melissa H. Anderson sold 1,137 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Vulcan Materials Profile

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.