Hsbc Holdings PLC Boosts Position in Vulcan Materials (NYSE:VMC)

Hsbc Holdings PLC lifted its position in Vulcan Materials (NYSE:VMC) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,823 shares of the construction company’s stock after buying an additional 17,507 shares during the quarter. Hsbc Holdings PLC owned approximately 0.19% of Vulcan Materials worth $61,463,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Contravisory Investment Management Inc. lifted its stake in Vulcan Materials by 1.6% in the 1st quarter. Contravisory Investment Management Inc. now owns 2,579 shares of the construction company’s stock worth $704,000 after purchasing an additional 40 shares in the last quarter. Commerce Bank boosted its stake in Vulcan Materials by 1.0% during the fourth quarter. Commerce Bank now owns 4,442 shares of the construction company’s stock valued at $1,008,000 after buying an additional 43 shares during the period. UMB Bank n.a. grew its position in Vulcan Materials by 61.8% during the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after buying an additional 47 shares in the last quarter. Monetary Management Group Inc. increased its stake in Vulcan Materials by 2.3% in the 2nd quarter. Monetary Management Group Inc. now owns 2,250 shares of the construction company’s stock worth $560,000 after acquiring an additional 50 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Vulcan Materials by 13.6% in the 1st quarter. Covestor Ltd now owns 425 shares of the construction company’s stock valued at $116,000 after acquiring an additional 51 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on VMC shares. Loop Capital cut their price objective on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. 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 research note on Thursday, August 8th. Truist Financial lowered their price objective 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. Stephens reduced their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada dropped their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus price target of $274.73.

Vulcan Materials Stock Up 3.8 %

Shares of NYSE VMC opened at $253.79 on Friday. The firm’s fifty day moving average is $248.39 and its 200 day moving average is $255.74. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $278.79. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. The company has a market cap of $33.56 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.25 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data 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 analysts’ expectations of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. Vulcan Materials’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. On average, equities research analysts expect that Vulcan Materials will post 7.73 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 15th. Vulcan Materials’s payout ratio is 26.86%.

Vulcan Materials 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.