Lazari Capital Management Inc. Takes Position in Vulcan Materials (NYSE:VMC)

Lazari Capital Management Inc. bought a new stake in Vulcan Materials (NYSE:VMC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,673 shares of the construction company’s stock, valued at approximately $665,000.

Other hedge funds have also made changes to their positions in the company. Capital World Investors purchased a new stake in Vulcan Materials during the 1st quarter worth $388,027,000. Vanguard Group Inc. boosted its holdings in shares of Vulcan Materials by 5.0% in the 1st 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. boosted its holdings in shares of Vulcan Materials by 271.0% in the 4th 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 boosted its holdings in shares of 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 period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Vulcan Materials by 190.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 270,069 shares of the construction company’s stock valued at $61,308,000 after buying an additional 177,085 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on VMC. Loop Capital decreased their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Stephens reduced their target price 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. Citigroup reduced 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 note on Thursday, August 8th. Truist Financial reduced their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, StockNews.com lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $274.73.

Vulcan Materials Stock Down 1.2 %

VMC stock opened at $247.49 on Wednesday. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $278.79. The company’s 50 day simple moving average is $247.28 and its 200-day simple moving average is $254.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. The firm has a market capitalization of $32.68 billion, a P/E ratio of 36.13, a P/E/G ratio of 2.32 and a beta of 0.82.

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). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Vulcan Materials will post 7.73 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Thursday, August 15th. Vulcan Materials’s payout ratio is presently 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.