Castle Rock Wealth Management LLC Invests $1.01 Million in Vulcan Materials Company $VMC

Key Points

• Castle Rock Wealth Management LLC invested approximately $1.01 million in Vulcan Materials Company, acquiring 3,760 shares during the 2nd quarter of 2023.
• The stock has received mixed analyst ratings, with projections ranging from a price target of $285.00 by Morgan Stanley to a high of $330.00 by JPMorgan Chase & Co.
• Vulcan Materials recently declared a quarterly dividend of $0.49 per share, reflecting an annualized yield of 0.7%.

Castle Rock Wealth Management LLC purchased a new position in Vulcan Materials Company (NYSE:VMC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,760 shares of the construction company's stock, valued at approximately $1,005,000.

Several other large investors also recently bought and sold shares of VMC. ORG Partners LLC increased its holdings in Vulcan Materials by 86.3% in the 2nd quarter. ORG Partners LLC now owns 95 shares of the construction company's stock worth $25,000 after buying an additional 44 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Vulcan Materials in the 1st quarter worth about $27,000. Manchester Capital Management LLC grew its stake in shares of Vulcan Materials by 26.9% during the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after purchasing an additional 39 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Vulcan Materials during the 1st quarter valued at about $45,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Vulcan Materials during the 1st quarter valued at about $54,000. 90.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on VMC shares. Morgan Stanley cut their price objective on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research note on Monday, July 28th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Vulcan Materials in a research note on Saturday, September 27th. Barclays boosted their price objective on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Finally, Citigroup reissued a "buy" rating and issued a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $308.58.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the sale, the senior vice president directly owned 2,832 shares of the company's stock, valued at approximately $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.

Vulcan Materials Stock Down 1.4%

Shares of VMC opened at $300.54 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. The stock has a market capitalization of $39.71 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 2.49 and a beta of 0.92. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $309.17. The business's 50 day simple moving average is $292.58 and its 200-day simple moving average is $269.78.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The business had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $2.35 earnings per share. As a group, equities analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th were paid a $0.49 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is presently 27.37%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.