1,976 Shares in Vulcan Materials Company $VMC Bought by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. bought a new stake in shares of Vulcan Materials Company (NYSE:VMC) in the 3rd quarter, Holdings Channel.com reports. The firm bought 1,976 shares of the construction company’s stock, valued at approximately $483,000.

A number of other institutional investors and hedge funds have also bought and sold shares of VMC. BlackRock Inc. purchased a new position in shares of Vulcan Materials in the 2nd quarter worth $2,868,444,000. Bank of America Corp DE purchased a new stake in shares of Vulcan Materials during the second quarter valued at about $688,580,000. The Manufacturers Life Insurance Company purchased a new position in Vulcan Materials during the 2nd quarter worth $451,119,000. Dimensional Fund Advisors LP lifted its stake in Vulcan Materials by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company’s stock valued at $366,592,000 after acquiring an additional 24,187 shares during the period. Finally, Stockbridge Partners LLC acquired a new stake in shares of Vulcan Materials during the 2nd quarter worth approximately $314,470,000. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VMC has been the topic of several recent research reports. B. Riley Financial lifted their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial lowered their price target on shares of Vulcan Materials from $360.00 to $320.00 and set a “buy” rating for the company in a report on Monday, October 5th. JPMorgan Chase & Co. lowered their price objective on Vulcan Materials from $320.00 to $300.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Stephens raised their target price on shares of Vulcan Materials from $285.00 to $315.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Vulcan Materials in a research report on Monday, September 21st. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average target price of $310.72.

Vulcan Materials Trading Up 4.7%

Vulcan Materials stock opened at $297.96 on Thursday. The company has a 50 day moving average price of $256.70 and a 200 day moving average price of $280.20. The firm has a market capitalization of $38.24 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 2.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.43. Vulcan Materials Company has a 52 week low of $237.03 and a 52 week high of $331.09.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Thursday, October 29th. The construction company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.02. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.24 billion. Vulcan Materials had a return on equity of 13.03% and a net margin of 13.77%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.84 EPS. Research analysts forecast that Vulcan Materials Company will post 8.92 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, November 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, November 9th. Vulcan Materials’s dividend payout ratio (DPR) is 24.62%.

Insider Buying and Selling

In related news, SVP David Clement sold 2,000 shares of Vulcan Materials stock in a transaction on Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the sale, the senior vice president directly owned 6,716 shares of the company’s stock, valued at $1,914,731.60. The trade was a 22.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J. Hill sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the transaction, the director owned 58,209 shares of the company’s stock, valued at approximately $16,075,579.53. This represents a 19.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.65% of the company’s stock.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a producer and distributor of construction materials used in infrastructure, commercial, residential and industrial projects. The company is the largest producer of construction aggregates in the United States, including crushed stone, sand and gravel.

In addition to aggregates, Vulcan Materials produces asphalt mix, ready-mixed concrete and cement. Its materials are used in roads, bridges, airports, commercial buildings, homes and other construction applications.