Corebridge Financial Inc. Reduces Stock Position in Vulcan Materials (NYSE:VMC)

Corebridge Financial Inc. cut its holdings in Vulcan Materials (NYSE:VMC) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,709 shares of the construction company’s stock after selling 712 shares during the period. Corebridge Financial Inc.’s holdings in Vulcan Materials were worth $10,214,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in Vulcan Materials during the fourth quarter worth approximately $31,000. Generali Asset Management SPA SGR purchased a new position in shares of Vulcan Materials in the 4th quarter worth approximately $32,000. UMB Bank n.a. boosted its holdings in shares of Vulcan Materials by 138.5% in the 4th quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock worth $48,000 after purchasing an additional 108 shares during the period. Washington Trust Advisors Inc. increased its position in shares of Vulcan Materials by 30.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company’s stock valued at $54,000 after purchasing an additional 48 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Vulcan Materials during the 3rd quarter valued at $57,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on VMC. Stifel Nicolaus began coverage on shares of Vulcan Materials in a research report on Tuesday, March 4th. They set a “buy” rating and a $287.00 price objective on the stock. Raymond James cut their price target on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. Morgan Stanley increased their price objective on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Royal Bank of Canada boosted their target price on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 19th. Finally, Citigroup reduced their price target on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $302.67.

Vulcan Materials Price Performance

Shares of VMC stock opened at $236.97 on Thursday. Vulcan Materials has a twelve month low of $215.08 and a twelve month high of $298.31. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $255.29 and a two-hundred day simple moving average of $260.56. The stock has a market capitalization of $31.31 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.41. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same period in the prior year, the firm earned $1.46 earnings per share. On average, analysts predict that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.49 per share. The ex-dividend date was Monday, March 10th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.83%. Vulcan Materials’s dividend payout ratio (DPR) is currently 28.61%.

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.