Vulcan Materials Company $VMC Stock Position Raised by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Vulcan Materials Company by 7.5%, owning approximately 1.87 million shares valued at $495.6 million.
• Vulcan Materials reported a quarterly EPS of $2.45, missing estimates, with revenue of $2.10 billion, which was also below expectations.
• The firm announced a quarterly dividend of $0.49, with a payout ratio of 27.37%, to be paid on November 25th.

Allspring Global Investments Holdings LLC raised its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 7.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,872,652 shares of the construction company's stock after purchasing an additional 130,949 shares during the period. Vulcan Materials accounts for about 0.8% of Allspring Global Investments Holdings LLC's investment portfolio, making the stock its 12th largest position. Allspring Global Investments Holdings LLC owned approximately 1.42% of Vulcan Materials worth $495,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Unified Investment Management grew its holdings in Vulcan Materials by 1.7% in the 2nd quarter. Unified Investment Management now owns 2,259 shares of the construction company's stock valued at $589,000 after buying an additional 38 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after purchasing an additional 39 shares during the period. Chemistry Wealth Management LLC increased its position in shares of Vulcan Materials by 3.0% during the second quarter. Chemistry Wealth Management LLC now owns 1,343 shares of the construction company's stock valued at $350,000 after purchasing an additional 39 shares during the period. ORG Partners LLC increased its position in shares of Vulcan Materials by 86.3% during the second quarter. ORG Partners LLC now owns 95 shares of the construction company's stock valued at $25,000 after purchasing an additional 44 shares during the period. Finally, DRW Securities LLC increased its position in shares of Vulcan Materials by 2.6% during the first quarter. DRW Securities LLC now owns 1,748 shares of the construction company's stock valued at $408,000 after purchasing an additional 45 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Price Performance

Shares of VMC stock opened at $301.48 on Monday. The stock's fifty day simple moving average is $294.29 and its 200 day simple moving average is $271.33. 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 $39.83 billion, a price-to-earnings ratio of 42.11, a P/E/G ratio of 2.46 and a beta of 0.92. Vulcan Materials Company has a one year low of $215.08 and a one year high of $309.17.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 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 company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the firm earned $2.35 EPS. Vulcan Materials's quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be given a $0.49 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.96 annualized dividend and a yield of 0.7%. Vulcan Materials's payout ratio is presently 27.37%.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the completion of the transaction, the senior vice president owned 2,832 shares in the company, valued at approximately $845,521.92. The trade was a 19.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company upgraded Vulcan Materials to a "hold" rating in a research report on Wednesday, October 8th. Weiss Ratings restated a "buy (b-)" rating on shares of Vulcan Materials in a research report on Wednesday, October 8th. Morgan Stanley lowered their price objective 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. Barclays boosted their price objective on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada decreased their price target on 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Vulcan Materials presently has an average rating of "Moderate Buy" and a consensus target price of $308.58.

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.

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