Northern Trust Corp Has $521.73 Million Holdings in Vulcan Materials Company $VMC

Key Points

• Northern Trust Corp has reduced its stake in Vulcan Materials Company by 0.1%, owning 2,236,300 shares worth approximately $521.7 million after selling 1,343 shares.
• Vulcan Materials reported earnings per share (EPS) of $2.45 for the last quarter, missing the consensus estimate by $0.20, but showing a 4.4% year-over-year revenue increase.
• The company has announced a quarterly dividend of $0.49 per share, which results in a 0.7% dividend yield and will be paid to investors on September 3rd, 2023.

Northern Trust Corp lowered its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 0.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,236,300 shares of the construction company's stock after selling 1,343 shares during the period. Northern Trust Corp owned approximately 1.69% of Vulcan Materials worth $521,729,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Vulcan Materials by 2.1% in the first quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company's stock worth $3,896,031,000 after buying an additional 347,155 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Vulcan Materials by 5.6% in the 1st quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company's stock valued at $1,625,583,000 after acquiring an additional 370,434 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Vulcan Materials by 7.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock valued at $1,518,291,000 after purchasing an additional 445,691 shares during the period. Stockbridge Partners LLC grew its stake in shares of Vulcan Materials by 11.3% in the 4th quarter. Stockbridge Partners LLC now owns 1,746,482 shares of the construction company's stock valued at $449,248,000 after purchasing an additional 177,918 shares during the period. Finally, Alkeon Capital Management LLC grew its stake in shares of Vulcan Materials by 54.1% in the 4th quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock valued at $329,769,000 after purchasing an additional 450,000 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VMC shares. Morgan Stanley decreased their price target 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. Royal Bank Of Canada reduced their price objective on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Barclays upped their price objective on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $280.00 to $318.00 in a report on Friday, May 16th. Finally, Stifel Nicolaus upped 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $304.27.

Vulcan Materials Trading Up 1.4%

Shares of VMC stock traded up $4.0170 during trading hours on Friday, reaching $292.2970. The company had a trading volume of 529,856 shares, compared to its average volume of 1,045,533. The company has a 50 day moving average of $272.36 and a 200 day moving average of $259.19. 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 firm has a market cap of $38.62 billion, a price-to-earnings ratio of 40.82, a P/E/G ratio of 2.36 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.

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 for the quarter, missing analysts' consensus estimates 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 net margin of 12.52% and a return on equity of 12.81%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $2.35 EPS. On average, equities research analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 14th. Vulcan Materials's dividend payout ratio (DPR) is presently 27.37%.

About Vulcan Materials

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.