Vulcan Materials (NYSE:VMC) Shares Bought by Skye Global Management LP

Skye Global Management LP lifted its stake in shares of Vulcan Materials (NYSE:VMC) by 105.3% during the third quarter, Holdings Channel reports. The firm owned 156,000 shares of the construction company’s stock after purchasing an additional 80,000 shares during the quarter. Vulcan Materials makes up approximately 0.9% of Skye Global Management LP’s portfolio, making the stock its 16th largest holding. Skye Global Management LP’s holdings in Vulcan Materials were worth $39,067,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in VMC. Principal Financial Group Inc. grew its stake in Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after acquiring an additional 884,580 shares in the last quarter. FMR LLC grew its position in Vulcan Materials by 2.2% in the third quarter. FMR LLC now owns 3,660,931 shares of the construction company’s stock worth $916,807,000 after acquiring an additional 78,271 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after purchasing an additional 330,433 shares during the last quarter. Stockbridge Partners LLC raised its holdings in shares of Vulcan Materials by 9.6% during the 3rd quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company’s stock valued at $392,815,000 after purchasing an additional 137,365 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Vulcan Materials by 7.1% in the third quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock worth $342,971,000 after purchasing an additional 91,318 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

VMC opened at $286.39 on Friday. The stock has a market cap of $37.82 billion, a PE ratio of 45.17, a P/E/G ratio of 2.77 and a beta of 0.81. Vulcan Materials has a 1 year low of $209.60 and a 1 year high of $298.31. The stock’s 50 day simple moving average is $264.56 and its 200-day simple moving average is $255.23. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company posted $2.29 EPS. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. Sell-side analysts forecast that Vulcan Materials will post 7.16 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Monday, November 4th. Vulcan Materials’s payout ratio is 29.02%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on VMC shares. Citigroup decreased their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. UBS Group assumed coverage on shares of Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price objective for the company. Truist Financial raised their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $283.92.

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.