Dai ichi Life Insurance Company Ltd Sells 3,000 Shares of Vulcan Materials (NYSE:VMC)

Dai ichi Life Insurance Company Ltd lowered its holdings in shares of Vulcan Materials (NYSE:VMC) by 39.8% during the third quarter, Holdings Channel reports. The firm owned 4,529 shares of the construction company’s stock after selling 3,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Vulcan Materials were worth $1,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SouthState Corp grew 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. Kings Path Partners LLC acquired a new position in Vulcan Materials in the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in Vulcan Materials in the 3rd quarter valued at $30,000. UMB Bank n.a. grew its stake 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 buying an additional 47 shares during the last quarter. Finally, Concord Wealth Partners acquired a new position in Vulcan Materials in the 3rd quarter valued at $35,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup lowered their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Stephens decreased their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. UBS Group assumed coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target on the stock. Barclays raised their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, Truist Financial raised their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $283.92.

Vulcan Materials Trading Down 0.7 %

Shares of VMC stock opened at $286.39 on Thursday. Vulcan Materials has a 12-month low of $209.60 and a 12-month high of $298.31. The company has a market capitalization of $37.82 billion, a P/E ratio of 45.17, a P/E/G ratio of 2.81 and a beta of 0.81. The firm has a 50-day moving average price of $263.91 and a 200 day moving average price of $255.01. 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 (NYSE:VMC) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the business earned $2.29 earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. Research analysts forecast that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 4th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.64%. The ex-dividend date was Monday, November 4th. Vulcan Materials’s dividend payout ratio is currently 29.02%.

Vulcan Materials 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.