Vulcan Materials (NYSE:VMC) Stake Boosted by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. increased its stake in Vulcan Materials (NYSE:VMC) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,262 shares of the construction company’s stock after purchasing an additional 778 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Vulcan Materials were worth $5,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SouthState Corp increased its position in Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after buying an additional 87 shares during the period. Register Financial Advisors LLC bought a new position in shares of Vulcan Materials during the first quarter worth about $27,000. Kings Path Partners LLC bought a new position in shares of Vulcan Materials during the second quarter worth about $27,000. UMB Bank n.a. increased its holdings in shares of Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after acquiring an additional 47 shares during the period. Finally, Opal Wealth Advisors LLC bought a new stake in Vulcan Materials in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup decreased their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Stephens lowered 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. Truist Financial cut their target price on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Loop Capital decreased their price target on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada cut their price objective on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $274.73.

Vulcan Materials Price Performance

NYSE VMC opened at $244.40 on Thursday. 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 has a 1 year low of $190.51 and a 1 year high of $278.79. The company has a market cap of $32.32 billion, a PE ratio of 35.68, a PEG ratio of 2.25 and a beta of 0.82. The stock’s 50-day moving average price is $248.41 and its two-hundred day moving average price is $255.75.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. On average, analysts predict that Vulcan Materials will post 7.73 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.46 per share. The ex-dividend date 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 is 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.