Artemis Investment Management LLP Purchases 12,543 Shares of Vulcan Materials (NYSE:VMC)

Artemis Investment Management LLP raised its position in Vulcan Materials (NYSE:VMC) by 5.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 239,539 shares of the construction company’s stock after acquiring an additional 12,543 shares during the quarter. Artemis Investment Management LLP owned approximately 0.18% of Vulcan Materials worth $59,988,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in VMC. Azzad Asset Management Inc. ADV increased its stake in shares of Vulcan Materials by 6.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 4,832 shares of the construction company’s stock worth $1,210,000 after purchasing an additional 279 shares in the last quarter. GAMMA Investing LLC grew its position in Vulcan Materials by 54.1% in the third quarter. GAMMA Investing LLC now owns 1,091 shares of the construction company’s stock worth $273,000 after acquiring an additional 383 shares in the last quarter. Czech National Bank increased its position in shares of Vulcan Materials by 6.7% during the 3rd quarter. Czech National Bank now owns 26,902 shares of the construction company’s stock valued at $6,737,000 after purchasing an additional 1,700 shares during the last quarter. Handelsbanken Fonder AB raised its position in Vulcan Materials by 0.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 68,281 shares of the construction company’s stock worth $17,100,000 after purchasing an additional 261 shares during the period. Finally, Regency Capital Management Inc. DE purchased a new stake in Vulcan Materials in the 3rd quarter valued at about $5,060,000. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VMC has been the topic of several research reports. Stephens cut their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada decreased their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Loop Capital dropped their price objective on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Truist Financial lowered their price objective on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Citigroup reduced their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $274.73.

Vulcan Materials Stock Performance

Shares of NYSE:VMC opened at $238.09 on Wednesday. The company has a market cap of $31.44 billion, a P/E ratio of 34.76, a PEG ratio of 2.24 and a beta of 0.82. The business’s 50-day simple moving average is $245.89 and its 200 day simple moving average is $253.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.66 and a current ratio of 2.48. Vulcan Materials has a one year low of $190.51 and a one year high of $278.79.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.12). The company had revenue of $2.01 billion for 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%. Vulcan Materials’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 earnings per share. On average, sell-side analysts forecast that Vulcan Materials will post 7.73 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 15th. Vulcan Materials’s payout ratio is 26.86%.

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.