Farrow Financial Inc. Boosts Stake in Vulcan Materials Company (NYSE:VMC)

Key Points

• Farrow Financial Inc. increased its holdings in Vulcan Materials Company by 17.7%, acquiring an additional 1,447 shares, bringing their total to 9,604 shares valued at approximately $2.24 million.
• Analysts have shown a positive sentiment towards Vulcan Materials, with upgrades from firms like UBS and Stifel Nicolaus, raising target prices significantly, resulting in a consensus rating of "Moderate Buy."
• The company has announced a quarterly dividend of $0.49 per share, representing an annualized yield of 0.7%, with a payout ratio currently at 27.37%.

Farrow Financial Inc. lifted its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 17.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,604 shares of the construction company's stock after acquiring an additional 1,447 shares during the quarter. Vulcan Materials accounts for 1.5% of Farrow Financial Inc.'s holdings, making the stock its 28th biggest position. Farrow Financial Inc.'s holdings in Vulcan Materials were worth $2,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Vulcan Materials in the first quarter worth $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Vulcan Materials in the fourth quarter worth $35,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Vulcan Materials in the fourth quarter worth $46,000. Manchester Capital Management LLC increased its stake in shares of Vulcan Materials by 26.9% in the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock worth $43,000 after acquiring an additional 39 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Vulcan Materials in the first quarter worth $45,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Price Performance

VMC traded up $4.82 during midday trading on Friday, hitting $286.92. 638,398 shares of the company traded hands, compared to its average volume of 1,060,300. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $37.91 billion, a price-to-earnings ratio of 40.07, a PEG ratio of 2.31 and a beta of 0.83. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31. The business has a 50 day simple moving average of $267.06 and a two-hundred day simple moving average of $258.06.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.10 billion for 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 business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.35 earnings per share. On average, equities analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 14th. Vulcan Materials's dividend payout ratio (DPR) is currently 27.37%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and raised their price target for the company from $280.00 to $318.00 in a research report on Friday, May 16th. Barclays raised their price target on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Citigroup restated a "buy" rating and set a $321.00 price target (up previously from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Finally, Raymond James Financial dropped their price target on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $304.27.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $270.00, for a total value of $405,000.00. Following the transaction, the senior vice president directly owned 2,832 shares of the company's stock, valued at approximately $764,640. This trade represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.62% of the company's stock.

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.