Jessup Wealth Management Inc Takes Position in Vulcan Materials (NYSE:VMC)

Jessup Wealth Management Inc acquired a new position in Vulcan Materials (NYSE:VMC) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 22,612 shares of the construction company’s stock, valued at approximately $5,663,000. Vulcan Materials makes up approximately 2.6% of Jessup Wealth Management Inc’s holdings, making the stock its 15th biggest holding.

Several other large investors have also recently added to or reduced their stakes in VMC. SouthState Corp boosted its stake in Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Register Financial Advisors LLC bought a new stake in Vulcan Materials in the first quarter worth about $27,000. Kings Path Partners LLC acquired a new stake in Vulcan Materials in the 2nd quarter valued at about $27,000. UMB Bank n.a. lifted its holdings in Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after acquiring an additional 47 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of Vulcan Materials during the 1st quarter valued at about $33,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Stock Up 0.8 %

Shares of NYSE:VMC traded up $2.03 during trading on Friday, reaching $245.93. 34,054 shares of the company traded hands, compared to its average volume of 819,254. Vulcan Materials has a 1-year low of $190.51 and a 1-year 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. The firm has a market cap of $32.48 billion, a P/E ratio of 35.60, a price-to-earnings-growth ratio of 2.25 and a beta of 0.82. The firm has a fifty day simple moving average of $244.04 and a 200 day simple moving average of $253.29.

Vulcan Materials (NYSE:VMC) last issued its earnings results 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 firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 EPS. Analysts anticipate that Vulcan Materials will post 7.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their target price on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup reduced their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada cut their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Finally, Stephens reduced their price objective 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Vulcan Materials currently has an average rating of “Moderate Buy” and an average target price of $272.45.

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.