Public Employees Retirement System of Ohio Reduces Stock Position in Vulcan Materials (NYSE:VMC)

Public Employees Retirement System of Ohio decreased its position in shares of Vulcan Materials (NYSE:VMC) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,796 shares of the construction company’s stock after selling 3,931 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Vulcan Materials were worth $14,474,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its position in Vulcan Materials by 5.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 38,777 shares of the construction company’s stock worth $9,711,000 after purchasing an additional 1,968 shares in the last quarter. XTX Topco Ltd increased its position in shares of Vulcan Materials by 65.8% in the third quarter. XTX Topco Ltd now owns 3,224 shares of the construction company’s stock valued at $807,000 after buying an additional 1,280 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in shares of Vulcan Materials during the 3rd quarter worth $242,000. National Bank of Canada FI grew its stake in Vulcan Materials by 64.4% in the 3rd quarter. National Bank of Canada FI now owns 78,541 shares of the construction company’s stock valued at $19,669,000 after acquiring an additional 30,762 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in Vulcan Materials by 21.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,450 shares of the construction company’s stock valued at $3,368,000 after acquiring an additional 2,388 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of VMC stock opened at $276.27 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The firm has a market capitalization of $36.48 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81. Vulcan Materials has a one year low of $216.38 and a one year high of $298.31. The company has a 50 day moving average price of $269.52 and a 200 day moving average price of $256.25.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the company earned $2.29 earnings per share. The company’s quarterly revenue was down 8.3% on a year-over-year basis. Sell-side analysts anticipate that Vulcan Materials will post 7.16 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Monday, November 4th. Vulcan Materials’s payout ratio is currently 29.02%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Truist Financial boosted their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group initiated coverage on Vulcan Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $283.92.

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.