Teachers Retirement System of The State of Kentucky Reduces Stock Position in Vulcan Materials (NYSE:VMC)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Vulcan Materials (NYSE:VMC) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,838 shares of the construction company’s stock after selling 723 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Vulcan Materials were worth $2,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of VMC. Principal Financial Group Inc. boosted its holdings in shares of Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after acquiring an additional 884,580 shares during the period. State Street Corp lifted its holdings in Vulcan Materials by 1.2% during the 3rd quarter. State Street Corp now owns 5,281,102 shares of the construction company’s stock worth $1,322,546,000 after purchasing an additional 65,163 shares in the last quarter. FMR LLC boosted its stake in Vulcan Materials by 2.2% in the 3rd quarter. FMR LLC now owns 3,660,931 shares of the construction company’s stock worth $916,807,000 after purchasing an additional 78,271 shares during the period. Geode Capital Management LLC grew its holdings in Vulcan Materials by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company’s stock valued at $826,644,000 after buying an additional 33,061 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Vulcan Materials by 18.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after buying an additional 330,433 shares during the period. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock opened at $275.77 on Monday. The firm has a market capitalization of $36.42 billion, a PE ratio of 43.50, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81. 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 has a 12 month low of $218.37 and a 12 month high of $298.31. The business’s 50-day moving average price is $272.31 and its 200-day moving average price is $256.85.

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

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 4th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Monday, November 4th. Vulcan Materials’s payout ratio is presently 29.02%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Truist Financial raised their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Barclays lifted their price objective on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, UBS Group assumed coverage on Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 target price for the company. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.92.

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.