Amalgamated Bank Has $6.77 Million Stock Position in Vulcan Materials (NYSE:VMC)

Amalgamated Bank cut its stake in shares of Vulcan Materials (NYSE:VMC) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,210 shares of the construction company’s stock after selling 729 shares during the period. Amalgamated Bank’s holdings in Vulcan Materials were worth $6,767,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Capital World Investors acquired a new position in Vulcan Materials in the 1st quarter worth about $388,027,000. Vanguard Group Inc. increased its stake in shares of Vulcan Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after buying an additional 755,991 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Vulcan Materials by 271.0% in the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock valued at $186,861,000 after buying an additional 601,268 shares during the period. Nordea Investment Management AB raised its holdings in Vulcan Materials by 621.1% in the 1st quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock valued at $64,581,000 after buying an additional 203,166 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Vulcan Materials by 190.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 270,069 shares of the construction company’s stock worth $61,308,000 after buying an additional 177,085 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

Shares of VMC opened at $253.79 on Friday. The firm 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. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $278.79. The business’s 50 day moving average price is $248.39 and its two-hundred day moving average price is $255.74. 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 (NYSE:VMC) last released its 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 company 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 EPS. On average, equities analysts anticipate that Vulcan Materials will post 7.73 EPS for the current year.

Vulcan Materials Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have issued reports on VMC shares. Citigroup decreased their price target 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 for the company in a research report on Thursday, August 8th. Royal Bank of Canada reduced their price target 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. 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, Truist Financial cut their price objective 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. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently 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.