Federated Hermes Inc. Acquires 18,643 Shares of Vulcan Materials Company (NYSE:VMC)

Key Points

• Federated Hermes Inc. increased its stake in Vulcan Materials Company by 41.9%, owning a total of 63,090 shares valued at approximately $14.7 million.
• The company reported a quarterly earnings miss, with an EPS of $2.45, falling short of analysts' estimates of $2.65, despite a year-over-year revenue increase of 4.4%.
• Vulcan Materials announced a quarterly dividend of $0.49, yielding 0.7%, with the payment scheduled for September 3rd, after a record date of August 14th.

Federated Hermes Inc. boosted its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 41.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,090 shares of the construction company's stock after buying an additional 18,643 shares during the quarter. Federated Hermes Inc.'s holdings in Vulcan Materials were worth $14,719,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Golden State Wealth Management LLC boosted its stake in Vulcan Materials by 21.0% during the 1st quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock valued at $222,000 after purchasing an additional 165 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Vulcan Materials by 42.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock worth $3,686,000 after buying an additional 4,678 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Vulcan Materials by 24.3% in the first quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock valued at $215,000 after acquiring an additional 180 shares during the period. GAMMA Investing LLC grew its stake in shares of Vulcan Materials by 27.2% in the first quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock worth $398,000 after acquiring an additional 365 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Vulcan Materials by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock worth $249,000 after acquiring an additional 51 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Argus raised shares of Vulcan Materials to a "strong-buy" rating in a report on Thursday, April 24th. Wolfe Research upgraded Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research note on Thursday, April 10th. Stifel Nicolaus lifted their price objective on Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Royal Bank Of Canada cut their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research note on Friday. Finally, Barclays lifted their price target on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $302.45.

Vulcan Materials Price Performance

Shares of NYSE:VMC traded down $0.11 during trading on Friday, reaching $274.56. The stock had a trading volume of 1,442,181 shares, compared to its average volume of 1,029,894. The stock has a market capitalization of $36.27 billion, a PE ratio of 38.35, a P/E/G ratio of 2.43 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $298.31. The business's 50-day moving average price is $265.36 and its 200 day moving average price is $257.55.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued 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). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the firm posted $2.35 EPS. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials's payout ratio is currently 27.80%.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $270.00, for a total transaction of $405,000.00. Following the sale, the senior vice president directly owned 2,832 shares of the company's stock, valued at $764,640. This represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.61% 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.