Kentucky Retirement Systems Lowers Position in Vulcan Materials (NYSE:VMC)

Kentucky Retirement Systems decreased its position in shares of Vulcan Materials (NYSE:VMC) by 1.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,966 shares of the construction company’s stock after selling 125 shares during the period. Kentucky Retirement Systems’ holdings in Vulcan Materials were worth $2,478,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new position in Vulcan Materials during the first quarter valued at $27,000. SouthState Corp lifted its position in Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after acquiring an additional 87 shares during the period. Kings Path Partners LLC bought a new stake in Vulcan Materials during the second quarter worth about $27,000. Opal Wealth Advisors LLC bought a new stake in Vulcan Materials during the first quarter worth about $33,000. Finally, YHB Investment Advisors Inc. purchased a new stake in Vulcan Materials in the first quarter worth about $34,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Down 0.6 %

NYSE:VMC opened at $252.04 on Friday. The company has a market cap of $33.33 billion, a PE ratio of 36.79, 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. The company has a 50 day simple moving average of $248.39 and a two-hundred day simple moving average of $255.63. Vulcan Materials has a 12 month low of $190.51 and a 12 month high of $278.79.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 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 analysts’ expectations 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 last year, the company posted $2.29 EPS. Research analysts forecast that Vulcan Materials will post 7.73 earnings per share for the current year.

Vulcan Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on VMC shares. 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. Royal Bank of Canada dropped their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Loop Capital reduced their price target on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Truist Financial dropped their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Stephens reduced their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.