Davidson Kempner Capital Management LP Sells 5,000 Shares of Vulcan Materials (NYSE:VMC)

Davidson Kempner Capital Management LP decreased its position in Vulcan Materials (NYSE:VMC) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,500 shares of the construction company’s stock after selling 5,000 shares during the period. Davidson Kempner Capital Management LP owned 0.09% of Vulcan Materials worth $29,220,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VMC. Interval Partners LP grew its position in shares of Vulcan Materials by 22.7% during the 2nd quarter. Interval Partners LP now owns 335,415 shares of the construction company’s stock worth $83,411,000 after buying an additional 62,043 shares during the period. Xponance Inc. lifted its holdings in Vulcan Materials by 2.0% in the second quarter. Xponance Inc. now owns 20,827 shares of the construction company’s stock valued at $5,179,000 after buying an additional 405 shares during the period. Bank of Montreal Can boosted its stake in Vulcan Materials by 4.4% in the second quarter. Bank of Montreal Can now owns 172,789 shares of the construction company’s stock valued at $43,007,000 after acquiring an additional 7,254 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in Vulcan Materials by 9.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 913 shares of the construction company’s stock worth $227,000 after acquiring an additional 81 shares during the period. Finally, Public Sector Pension Investment Board raised its position in shares of Vulcan Materials by 70.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 5,066 shares of the construction company’s stock valued at $1,260,000 after acquiring an additional 2,086 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on VMC. Citigroup reduced their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Loop Capital reduced their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Stephens lowered their price target on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Truist Financial reduced 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 note on Wednesday, August 7th. Finally, Royal Bank of Canada decreased their price objective on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $274.73.

Vulcan Materials Stock Down 0.6 %

Vulcan Materials stock opened at $252.05 on Monday. The company has a 50 day moving average of $248.39 and a 200-day moving average of $255.48. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $278.79. The stock has a market capitalization of $33.33 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 2.25 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share 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 company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $2.29 earnings per share. Vulcan Materials’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Vulcan Materials will post 7.73 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company 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 dividend payout ratio (DPR) 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.