Hollencrest Capital Management Decreases Stock Holdings in Vulcan Materials (NYSE:VMC)

Hollencrest Capital Management lessened its stake in Vulcan Materials (NYSE:VMC) by 38.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 161 shares of the construction company’s stock after selling 100 shares during the period. Hollencrest Capital Management’s holdings in Vulcan Materials were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors acquired a new stake in Vulcan Materials in the first quarter valued at approximately $388,027,000. Vanguard Group Inc. boosted its position 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 worth $4,368,273,000 after purchasing an additional 755,991 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Vulcan Materials by 271.0% during the 4th quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock worth $186,861,000 after buying an additional 601,268 shares during the last quarter. Nordea Investment Management AB raised its stake in Vulcan Materials by 621.1% in the first quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock valued at $64,581,000 after buying an additional 203,166 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Vulcan Materials by 190.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 270,069 shares of the construction company’s stock valued at $61,308,000 after buying an additional 177,085 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Down 0.6 %

Vulcan Materials stock opened at $252.04 on Friday. The business’s 50-day moving average price is $248.39 and its 200 day moving average price is $255.63. 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 firm has a market cap of $33.33 billion, a price-to-earnings ratio of 36.79, a price-to-earnings-growth ratio of 2.25 and a beta of 0.82. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $278.79.

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

Vulcan Materials Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Loop Capital cut their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Citigroup lowered their price objective 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. Stephens cut their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reduced their target price 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 investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $274.73.

Vulcan Materials Company 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.