Vulcan Materials Company $VMC Holdings Trimmed by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. has reduced its stake in Vulcan Materials by 4.1%, holding 38,081 shares valued at approximately $8.88 million.
• Several institutional investors have altered their positions in Vulcan Materials, with most showing positive growth, reflecting a robust interest in the stock.
• Vulcan Materials reported $2.45 earnings per share (EPS) for the last quarter, missing estimates, while also announcing a quarterly dividend of $0.49 to shareholders.

Corebridge Financial Inc. lowered its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 4.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 38,081 shares of the construction company's stock after selling 1,628 shares during the quarter. Corebridge Financial Inc.'s holdings in Vulcan Materials were worth $8,884,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Manchester Capital Management LLC grew its holdings 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 worth $43,000 after purchasing an additional 39 shares during the period. Alpha Omega Wealth Management LLC grew its holdings in shares of Vulcan Materials by 1.1% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 4,336 shares of the construction company's stock worth $1,012,000 after purchasing an additional 46 shares during the period. Wellington Management Group LLP lifted its position in Vulcan Materials by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock worth $249,000 after acquiring an additional 51 shares in the last quarter. Marks Group Wealth Management Inc lifted its position in Vulcan Materials by 2.7% during the 1st quarter. Marks Group Wealth Management Inc now owns 2,203 shares of the construction company's stock worth $514,000 after acquiring an additional 57 shares in the last quarter. Finally, Allworth Financial LP lifted its position in Vulcan Materials by 10.0% during the 1st quarter. Allworth Financial LP now owns 651 shares of the construction company's stock worth $163,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Ratings Changes

VMC has been the topic of several recent research reports. Royal Bank Of Canada reduced their price target on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Barclays upped their target price on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday. Stifel Nicolaus upped their target price on Vulcan Materials from $287.00 to $309.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley cut their target price on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $308.36.

Vulcan Materials Stock Performance

Shares of VMC stock traded down $0.07 on Friday, hitting $291.09. 609,873 shares of the stock traded hands, compared to its average volume of 862,417. 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 company has a market capitalization of $38.46 billion, a PE ratio of 40.66, a PEG ratio of 2.38 and a beta of 0.83. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $298.31. The company's fifty day moving average is $275.65 and its 200 day moving average is $259.85.

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

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, August 14th. Vulcan Materials's dividend payout ratio is presently 27.37%.

Vulcan Materials Company 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.