Meeder Asset Management Inc. Raises Stock Holdings in Vulcan Materials (NYSE:VMC)

Meeder Asset Management Inc. raised its stake in shares of Vulcan Materials (NYSE:VMC) by 32.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,613 shares of the construction company’s stock after acquiring an additional 877 shares during the period. Meeder Asset Management Inc.’s holdings in Vulcan Materials were worth $905,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VMC. SouthState Corp lifted its position in Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares during the period. Kings Path Partners LLC bought a new position in shares of Vulcan Materials during the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC bought a new position in shares of Vulcan Materials during the 3rd quarter valued at $30,000. UMB Bank n.a. boosted its stake in shares of Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after buying an additional 47 shares during the last quarter. Finally, Concord Wealth Partners bought a new stake in shares of Vulcan Materials in the third quarter worth $35,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock opened at $278.01 on Wednesday. The firm has a market cap of $36.71 billion, a PE ratio of 43.85, a PEG ratio of 2.68 and a beta of 0.81. The stock has a 50 day moving average of $258.51 and a 200 day moving average of $254.25. 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 $209.39 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the company earned $2.29 earnings per share. The firm’s revenue was down 8.3% on a year-over-year basis. On average, research analysts expect that Vulcan Materials will post 7.2 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.66%. Vulcan Materials’s payout ratio is currently 29.02%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VMC. Stephens dropped their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Citigroup dropped their price objective on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Truist Financial lifted their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, UBS Group initiated coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $280.46.

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.