Axxcess Wealth Management LLC Has $742,000 Position in Vulcan Materials (NYSE:VMC)

Axxcess Wealth Management LLC trimmed its position in Vulcan Materials (NYSE:VMC) by 21.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,985 shares of the construction company’s stock after selling 792 shares during the period. Axxcess Wealth Management LLC’s holdings in Vulcan Materials were worth $742,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in VMC. Register Financial Advisors LLC acquired a new stake in Vulcan Materials in the first quarter worth about $27,000. SouthState Corp boosted its stake in shares of Vulcan Materials by 669.2% in the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Vulcan Materials during the 2nd quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Vulcan Materials during the first quarter worth approximately $33,000. Finally, YHB Investment Advisors Inc. acquired a new position in Vulcan Materials in the first quarter valued at approximately $34,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

VMC stock opened at $253.79 on Friday. The stock has a 50-day moving average price of $248.39 and a two-hundred day moving average price of $255.74. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $278.79. The stock has a market cap of $33.56 billion, a PE ratio of 37.05, a price-to-earnings-growth ratio of 2.25 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 posted 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). The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 earnings per share. Equities analysts forecast that Vulcan Materials will post 7.73 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

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

Analyst Ratings Changes

A number of research firms have commented on VMC. Citigroup lowered their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Stephens dropped their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada decreased their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research 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 report on Wednesday, July 3rd. Finally, Truist Financial cut their target price 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. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $274.73.

Vulcan Materials 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.