Federated Hermes Inc. Has $11.25 Million Position in Vulcan Materials (NYSE:VMC)

Federated Hermes Inc. reduced its stake in Vulcan Materials (NYSE:VMC) by 27.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,219 shares of the construction company’s stock after selling 17,033 shares during the period. Federated Hermes Inc.’s holdings in Vulcan Materials were worth $11,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in VMC. Capital World Investors acquired a new stake in shares of Vulcan Materials in the 1st quarter valued at approximately $388,027,000. Norges Bank acquired a new stake in shares of Vulcan Materials in the 4th quarter valued at approximately $282,528,000. Vanguard Group Inc. boosted its stake in shares of Vulcan Materials by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after purchasing an additional 755,991 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Vulcan Materials by 271.0% in the 4th quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock valued at $186,861,000 after purchasing an additional 601,268 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Vulcan Materials by 621.1% in the 1st quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock valued at $64,581,000 after purchasing an additional 203,166 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on VMC. Loop Capital cut their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial cut their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada cut their target price on shares of 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. Citigroup cut their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Stephens cut their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $274.73.

Vulcan Materials Stock Up 2.3 %

Shares of NYSE VMC opened at $242.84 on Tuesday. The company has a market capitalization of $32.07 billion, a P/E ratio of 35.45, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $278.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.66 and a current ratio of 2.48. The company’s 50 day moving average price is $248.42 and its 200-day moving average price is $255.99.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 EPS. Equities analysts forecast that Vulcan Materials will post 7.73 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were paid a $0.46 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.76%. Vulcan Materials’s dividend payout ratio is currently 26.86%.

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.