Jones Financial Companies Lllp Acquires 421,939 Shares of Vulcan Materials Company $VMC

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Vulcan Materials Company by 11,723.8% during the first quarter, acquiring an additional 421,939 shares to own a total of 425,538 shares valued at approximately $99.3 million.
• Recent analyst reports have led to varying price target adjustments for Vulcan Materials, with Citigroup maintaining a "buy" rating and raising their price target to $321.00, while Morgan Stanley and Royal Bank of Canada have lowered theirs.
• Vulcan Materials reported a quarterly earnings miss, with an EPS of $2.45, falling short of the consensus estimate of $2.65, although quarterly revenue increased by 4.4% year-over-year.

Jones Financial Companies Lllp increased its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 11,723.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,538 shares of the construction company's stock after buying an additional 421,939 shares during the quarter. Jones Financial Companies Lllp owned about 0.32% of Vulcan Materials worth $99,278,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Vulcan Materials during the 1st quarter worth approximately $27,000. Manchester Capital Management LLC increased 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 worth $43,000 after purchasing an additional 39 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Vulcan Materials during the 1st quarter valued at $45,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Vulcan Materials in the 4th quarter valued at $46,000. Finally, Rakuten Securities Inc. bought a new stake in Vulcan Materials in the first quarter worth $54,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Performance

NYSE VMC traded up $2.33 during trading on Wednesday, hitting $294.77. The company's stock had a trading volume of 473,015 shares, compared to its average volume of 1,030,141. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $299.29. The firm has a market cap of $38.95 billion, a P/E ratio of 41.17, a price-to-earnings-growth ratio of 2.44 and a beta of 0.86. The firm has a 50 day moving average price of $280.13 and a 200 day moving average price of $261.14. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The company's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 EPS. Equities research analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, August 14th. Vulcan Materials's payout ratio is currently 27.37%.

Analysts Set New Price Targets

VMC has been the topic of several recent research reports. 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 report on Monday, July 28th. Citigroup reissued a "buy" rating and issued a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and upped their target price for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Finally, Barclays increased their price target on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $308.36.

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.