Sumitomo Mitsui Trust Group Inc. Has $84.06 Million Position in Vulcan Materials Company $VMC

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in Vulcan Materials by 3.9%, selling 12,112 shares to hold 294,717 shares valued at about $84.06 million, and institutional investors now own roughly 90.39% of the stock.
• Vulcan missed quarterly expectations, reporting $1.70 EPS versus a $2.11 consensus and $1.91 billion in revenue versus $1.95 billion expected, though revenue was up 3.2% year-over-year.
• The company raised its quarterly dividend to $0.52 ($2.08 annual, ~0.7% yield) and Wall Street has a consensus rating of Moderate Buy with an average price target of about $324.85.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,717 shares of the construction company's stock after selling 12,112 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Vulcan Materials worth $84,059,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Vulcan Materials by 1.8% during the third quarter. Vanguard Group Inc. now owns 17,207,183 shares of the construction company's stock worth $5,293,274,000 after acquiring an additional 311,539 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Vulcan Materials by 1.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,924,285 shares of the construction company's stock valued at $2,437,669,000 after acquiring an additional 99,298 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Vulcan Materials by 5.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company's stock valued at $2,345,703,000 after purchasing an additional 414,828 shares during the last quarter. Bank of America Corp DE boosted its stake in Vulcan Materials by 0.4% during the 3rd quarter. Bank of America Corp DE now owns 2,318,474 shares of the construction company's stock valued at $713,209,000 after purchasing an additional 9,030 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Vulcan Materials by 0.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,889,926 shares of the construction company's stock worth $570,077,000 after purchasing an additional 17,274 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $296.84 on Wednesday. The company has a market capitalization of $38.73 billion, a PE ratio of 36.56, a PEG ratio of 2.08 and a beta of 1.10. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.51. The stock's 50 day moving average price is $290.31 and its 200-day moving average price is $293.79. Vulcan Materials Company has a twelve month low of $231.76 and a twelve month high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.95 billion. During the same period in the previous year, the business posted $2.17 earnings per share. The business's revenue was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, March 9th. This is a positive change from Vulcan Materials's previous quarterly dividend of $0.49. Vulcan Materials's dividend payout ratio (DPR) is presently 25.62%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VMC. Truist Financial raised their target price on Vulcan Materials from $320.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Barclays decreased their price target on Vulcan Materials from $320.00 to $296.00 and set an "overweight" rating for the company in a report on Tuesday, March 31st. B. Riley Financial initiated coverage on Vulcan Materials in a research note on Thursday, January 15th. They set a "buy" rating and a $345.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Vulcan Materials from $322.00 to $321.00 and set an "equal weight" rating on the stock in a report on Monday, April 6th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Vulcan Materials presently has a consensus rating of "Moderate Buy" and an average price target of $324.85.

Insider Buying and Selling at Vulcan Materials

In related news, Director Melissa H. Anderson sold 1,137 shares of the business's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $303.72, for a total value of $345,329.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.65% of the company's stock.

Vulcan Materials Profile

Vulcan Materials Company NYSE: VMC is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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