Sumitomo Mitsui Trust Group Inc. Reduces Position in Vulcan Materials (NYSE:VMC)

Sumitomo Mitsui Trust Group Inc. reduced its position in Vulcan Materials (NYSE:VMC) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,051 shares of the construction company’s stock after selling 1,435 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Vulcan Materials were worth $72,637,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP grew its stake in shares of Vulcan Materials by 78.9% during the third quarter. GSA Capital Partners LLP now owns 2,170 shares of the construction company’s stock valued at $543,000 after buying an additional 957 shares during the last quarter. Waverton Investment Management Ltd boosted its holdings in Vulcan Materials by 25.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 188,948 shares of the construction company’s stock valued at $47,302,000 after acquiring an additional 38,329 shares during the period. Ashton Thomas Securities LLC bought a new position in Vulcan Materials in the 3rd quarter valued at $30,000. Legacy Capital Wealth Partners LLC increased its stake in Vulcan Materials by 7.2% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,643 shares of the construction company’s stock worth $412,000 after purchasing an additional 110 shares during the period. Finally, Axxcess Wealth Management LLC lifted its position in shares of Vulcan Materials by 44.9% during the third quarter. Axxcess Wealth Management LLC now owns 4,325 shares of the construction company’s stock worth $1,083,000 after purchasing an additional 1,340 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

VMC opened at $282.57 on Friday. The firm has a market capitalization of $37.32 billion, a PE ratio of 44.57, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. The business’s 50-day moving average is $254.71 and its two-hundred day moving average is $253.79. Vulcan Materials has a 1 year low of $209.39 and a 1 year 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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the firm earned $2.29 EPS. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. Research analysts anticipate that Vulcan Materials will post 7.2 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s payout ratio is presently 29.02%.

Analyst Ratings Changes

Several research analysts recently commented on VMC shares. Stephens reduced their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Citigroup reduced their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada lowered their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Truist Financial raised their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, UBS Group began coverage on Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 target price for the company. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.46.

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.