Vulcan Materials (NYSE:VMC) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. decreased its stake in Vulcan Materials (NYSE:VMC) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,960 shares of the construction company’s stock after selling 140 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Vulcan Materials were worth $487,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Register Financial Advisors LLC acquired a new stake in shares of Vulcan Materials in the first quarter valued at about $27,000. SouthState Corp boosted its position in Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after acquiring an additional 87 shares during the last quarter. Kings Path Partners LLC acquired a new position in Vulcan Materials during the second quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new position in Vulcan Materials during the first quarter worth about $33,000. Finally, YHB Investment Advisors Inc. acquired a new position in Vulcan Materials during the first quarter worth about $34,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on VMC. Royal Bank of Canada lowered their price target on shares of 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 target price on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Citigroup decreased their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial decreased 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. Finally, Stephens decreased their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $274.73.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $252.05 on Friday. The company’s 50 day simple moving average is $248.39 and its 200-day simple moving average is $255.56. The company has a market capitalization of $33.33 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 2.25 and a beta of 0.82. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $278.79. 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 announced its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.12). Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $2.29 earnings per share. Vulcan Materials’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, equities research analysts expect that Vulcan Materials will post 7.73 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid 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 currently 26.86%.

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.