Thoroughbred Financial Services LLC Acquires Shares of 907 Vulcan Materials (NYSE:VMC)

Thoroughbred Financial Services LLC bought a new position in shares of Vulcan Materials (NYSE:VMC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 907 shares of the construction company’s stock, valued at approximately $225,000.

Several other institutional investors have also recently made changes to their positions in VMC. Gilbert & Cook Inc. lifted its position in shares of Vulcan Materials by 6.9% during the fourth quarter. Gilbert & Cook Inc. now owns 3,909 shares of the construction company’s stock worth $887,000 after acquiring an additional 251 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Vulcan Materials by 45.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 1,602 shares of the construction company’s stock worth $364,000 after acquiring an additional 498 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new stake in shares of Vulcan Materials during the fourth quarter worth $272,000. Norges Bank purchased a new stake in shares of Vulcan Materials during the fourth quarter worth $282,528,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Vulcan Materials during the fourth quarter worth $375,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Up 0.9 %

Shares of NYSE:VMC opened at $245.12 on Wednesday. The stock’s 50-day moving average price is $248.48 and its 200-day moving average price is $255.83. Vulcan Materials has a 12-month low of $190.51 and a 12-month high of $278.79. The stock has a market capitalization of $32.37 billion, a P/E ratio of 35.78, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43.

Vulcan Materials (NYSE:VMC) last announced 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). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $2.29 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Vulcan Materials will post 7.73 earnings per share for the current year.

Vulcan Materials Announces Dividend

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 dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.75%. Vulcan Materials’s dividend payout ratio (DPR) is currently 26.86%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VMC shares. Stephens lowered their price objective 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. 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 research report on Wednesday, August 7th. Citigroup lowered their price objective 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. Royal Bank of Canada lowered their price objective on 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. Finally, Loop Capital lowered their price objective on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $274.73.

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.