Cranbrook Wealth Management LLC Purchases New Shares in Vulcan Materials (NYSE:VMC)

Cranbrook Wealth Management LLC bought a new position in Vulcan Materials (NYSE:VMC) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 1,963 shares of the construction company’s stock, valued at approximately $488,000.

Several other institutional investors and hedge funds also recently made changes to their positions in VMC. SouthState Corp increased its stake in Vulcan Materials by 669.2% in the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after buying an additional 87 shares during the last quarter. Register Financial Advisors LLC bought a new position in shares of Vulcan Materials in the first quarter valued at approximately $27,000. Kings Path Partners LLC purchased a new stake in shares of Vulcan Materials during the second quarter valued at approximately $27,000. UMB Bank n.a. lifted its holdings in Vulcan Materials by 61.8% during the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after acquiring an additional 47 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in Vulcan Materials in the first quarter worth $33,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup lowered their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada dropped their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Stephens decreased their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Truist Financial dropped their price objective on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Loop Capital reduced their price objective on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $274.73.

Vulcan Materials Stock Up 2.3 %

VMC stock opened at $242.84 on Tuesday. The stock has a 50-day simple moving average of $248.42 and a two-hundred day simple moving average of $255.99. The firm has a market capitalization of $32.07 billion, a PE ratio of 35.45, a PEG ratio of 2.19 and a beta of 0.82. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $278.79. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. Vulcan Materials’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 earnings per share. On average, equities analysts predict that Vulcan Materials will post 7.73 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, August 15th. Vulcan Materials’s payout ratio is 26.86%.

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.