Gardner Lewis Asset Management L P Has $5.09 Million Stock Holdings in Vulcan Materials (NYSE:VMC)

Gardner Lewis Asset Management L P increased its position in Vulcan Materials (NYSE:VMC) by 36.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,474 shares of the construction company’s stock after purchasing an additional 5,494 shares during the quarter. Vulcan Materials makes up 1.4% of Gardner Lewis Asset Management L P’s portfolio, making the stock its 25th biggest position. Gardner Lewis Asset Management L P’s holdings in Vulcan Materials were worth $5,091,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp raised its stake in shares of Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after buying an additional 87 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of Vulcan Materials during the 1st quarter valued at $27,000. Kings Path Partners LLC acquired a new position in shares of Vulcan Materials in the 2nd quarter valued at $27,000. UMB Bank n.a. boosted its position 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 purchasing an additional 47 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of Vulcan Materials in the 1st quarter worth $33,000. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup cut 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. Loop Capital decreased their price objective on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Stephens cut their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Truist Financial reduced their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada dropped their price objective on 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. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Vulcan Materials presently has an average rating of “Moderate Buy” and an average price target of $274.73.

Vulcan Materials Stock Up 0.9 %

NYSE:VMC opened at $245.12 on Wednesday. The company has a market cap of $32.37 billion, a PE ratio of 35.78, a PEG ratio of 2.19 and a beta of 0.82. The stock has a 50-day simple moving average of $248.48 and a 200 day simple moving average of $255.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.66 and a current ratio of 2.48. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $278.79.

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

Vulcan Materials Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. Vulcan Materials’s payout ratio is 26.86%.

About Vulcan Materials

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.