Jessup Wealth Management Inc Purchases 5,382 Shares of Vulcan Materials (NYSE:VMC)

Jessup Wealth Management Inc lifted its position in shares of Vulcan Materials (NYSE:VMC) by 23.8% during the fourth quarter, Holdings Channel reports. The firm owned 27,994 shares of the construction company’s stock after acquiring an additional 5,382 shares during the period. Vulcan Materials makes up 3.1% of Jessup Wealth Management Inc’s holdings, making the stock its 11th largest holding. Jessup Wealth Management Inc’s holdings in Vulcan Materials were worth $7,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Vulcan Materials in the 3rd quarter valued at $30,000. Concord Wealth Partners purchased a new position in shares of Vulcan Materials in the 3rd quarter worth about $35,000. Washington Trust Advisors Inc. grew its position in Vulcan Materials by 240.4% during the third quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock valued at $40,000 after buying an additional 113 shares during the period. Capital Performance Advisors LLP purchased a new stake in Vulcan Materials during the third quarter worth about $42,000. Finally, UMB Bank n.a. raised its position in Vulcan Materials by 138.5% in the fourth quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock worth $48,000 after acquiring an additional 108 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Raymond James reduced their target price on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. Citigroup decreased their target price on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada upped their price target on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research report on Wednesday. Barclays lifted their price objective on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, UBS Group initiated coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus price target of $303.82.

Vulcan Materials Trading Down 2.9 %

Shares of VMC opened at $264.84 on Thursday. The business’s 50-day moving average price is $267.35 and its 200-day moving average price is $261.43. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. Vulcan Materials has a twelve month low of $225.36 and a twelve month high of $298.31. The stock has a market cap of $34.98 billion, a PE ratio of 41.77, a P/E/G ratio of 2.09 and a beta of 0.84.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.41. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. During the same period in the prior year, the company posted $1.46 EPS. On average, equities analysts forecast that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.49 per share. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.96 annualized dividend and a yield of 0.74%. Vulcan Materials’s dividend payout ratio (DPR) is currently 29.02%.

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.