Ables Iannone Moore & Associates Inc. Raises Holdings in Vulcan Materials Company $VMC

Ables Iannone Moore & Associates Inc. grew its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 22.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,453 shares of the construction company’s stock after acquiring an additional 2,453 shares during the period. Vulcan Materials accounts for approximately 1.7% of Ables Iannone Moore & Associates Inc.’s investment portfolio, making the stock its 12th biggest holding. Ables Iannone Moore & Associates Inc.’s holdings in Vulcan Materials were worth $3,291,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Vulcan Materials in the 2nd quarter valued at $2,868,444,000. Bank of America Corp DE bought a new stake in Vulcan Materials in the 2nd quarter valued at about $688,580,000. The Manufacturers Life Insurance Company acquired a new stake in Vulcan Materials in the second quarter valued at approximately $451,119,000. Stockbridge Partners LLC acquired a new stake in Vulcan Materials in the second quarter valued at approximately $314,470,000. Finally, Veritas Asset Management LLP bought a new stake in shares of Vulcan Materials during the second quarter valued at approximately $306,641,000. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Up 1.3%

Shares of VMC stock traded up $3.18 on Tuesday, hitting $248.75. The stock had a trading volume of 333,457 shares, compared to its average volume of 1,163,644. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. The business has a 50 day moving average of $264.15 and a 200 day moving average of $277.46. Vulcan Materials Company has a 12-month low of $237.03 and a 12-month high of $331.09. The stock has a market cap of $32.23 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 2.36 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the firm posted $2.42 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, analysts expect that Vulcan Materials Company will post 9.1 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, August 13th. Vulcan Materials’s dividend payout ratio (DPR) is 24.56%.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP David Clement sold 2,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the transaction, the senior vice president owned 6,716 shares in the company, valued at $1,914,731.60. This represents a 22.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J. Hill sold 14,000 shares of Vulcan Materials stock in a transaction on Friday, August 21st. The stock was sold at an average price of $276.17, for a total value of $3,866,380.00. Following the sale, the director owned 58,209 shares in the company, valued at $16,075,579.53. The trade was a 19.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on VMC. Wells Fargo & Company cut their target price on Vulcan Materials from $254.00 to $249.00 and set an “underweight” rating on the stock in a report on Monday. DA Davidson reiterated a “buy” rating and set a $330.00 price objective on shares of Vulcan Materials in a report on Monday, September 21st. Truist Financial lowered their target price on shares of Vulcan Materials from $360.00 to $320.00 and set a “buy” rating on the stock in a report on Monday. Weiss Ratings cut shares of Vulcan Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Vulcan Materials in a report on Wednesday, July 15th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $318.21.

Vulcan Materials Profile

Vulcan Materials Company (NYSE:VMC) is a major producer and supplier of construction materials in the United States. The company primarily produces and distributes construction aggregates, including crushed stone, sand and gravel, which are used in infrastructure, commercial, residential and industrial projects.

In addition to aggregates, Vulcan produces asphalt mix and ready-mixed concrete and provides related construction-material services. Its products support highways, bridges, airports, buildings and other essential infrastructure.