Virtu Financial LLC Purchases Shares of 3,238 Vulcan Materials (NYSE:VMC)

Virtu Financial LLC acquired a new position in shares of Vulcan Materials (NYSE:VMC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,238 shares of the construction company’s stock, valued at approximately $811,000.

Other hedge funds also recently modified their holdings of the company. SouthState Corp raised its holdings in 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 acquiring an additional 87 shares in the last quarter. Kings Path Partners LLC acquired a new position in shares of Vulcan Materials during the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Vulcan Materials during the 3rd quarter worth approximately $30,000. UMB Bank n.a. boosted its holdings 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 valued at $31,000 after buying an additional 47 shares during the last quarter. Finally, Concord Wealth Partners bought a new position in shares of Vulcan Materials in the third quarter valued at $35,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

NYSE:VMC opened at $275.75 on Friday. Vulcan Materials has a 52 week low of $218.37 and a 52 week high of $298.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The firm’s 50-day simple moving average is $272.31 and its 200 day simple moving average is $256.80. The firm has a market cap of $36.42 billion, a price-to-earnings ratio of 43.49, a P/E/G ratio of 2.70 and a beta of 0.81.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 earnings per share. As a group, sell-side analysts predict that Vulcan Materials will post 7.16 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were given a dividend of $0.46 per share. The ex-dividend date was Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.67%. Vulcan Materials’s payout ratio is 29.02%.

Wall Street Analyst Weigh In

Several analysts have issued reports on VMC shares. UBS Group initiated coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 price target on the stock. StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Barclays upped their price objective on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Truist Financial lifted their target price on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and a consensus price target of $283.92.

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.