Vulcan Materials (NYSE:VMC) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Vulcan Materials (NYSE:VMC) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,465 shares of the construction company’s stock after selling 769 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Vulcan Materials worth $17,897,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of VMC. SouthState Corp boosted its holdings in shares of Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after acquiring an additional 87 shares in the last quarter. Kings Path Partners LLC acquired a new stake in Vulcan Materials in the second quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Vulcan Materials during the 3rd quarter valued at $30,000. UMB Bank n.a. increased its position in shares of Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after purchasing an additional 47 shares during the period. Finally, Concord Wealth Partners bought a new stake in shares of Vulcan Materials in the 3rd quarter worth $35,000. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Performance

Shares of VMC stock opened at $286.54 on Wednesday. The stock’s fifty day simple moving average is $266.71 and its 200-day simple moving average is $255.54. The company has a market capitalization of $37.84 billion, a price-to-earnings ratio of 45.20, a P/E/G ratio of 2.78 and a beta of 0.81. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. Vulcan Materials has a 1-year low of $210.85 and a 1-year high of $298.31.

Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company’s revenue was down 8.3% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. On average, sell-side analysts predict that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were given a $0.46 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a yield of 0.64%. Vulcan Materials’s payout ratio is 29.02%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VMC. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Truist Financial raised their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays boosted their target price on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. 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 report on Thursday, August 8th. Finally, Royal Bank of Canada dropped their price target 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. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.92.

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.