Concord Wealth Partners Purchases New Holdings in Vulcan Materials (NYSE:VMC)

Concord Wealth Partners bought a new position in Vulcan Materials (NYSE:VMC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 141 shares of the construction company’s stock, valued at approximately $35,000.

A number of other hedge funds have also added to or reduced their stakes in VMC. Sequoia Financial Advisors LLC lifted its position in Vulcan Materials by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 1,987 shares of the construction company’s stock valued at $498,000 after acquiring an additional 44 shares during the last quarter. Marcum Wealth LLC lifted its stake in shares of Vulcan Materials by 5.7% during the third quarter. Marcum Wealth LLC now owns 854 shares of the construction company’s stock worth $214,000 after buying an additional 46 shares during the period. UMB Bank n.a. lifted its stake in shares of Vulcan Materials by 61.8% during the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after buying an additional 47 shares during the period. Monetary Management Group Inc. lifted its stake in shares of Vulcan Materials by 2.3% during the second quarter. Monetary Management Group Inc. now owns 2,250 shares of the construction company’s stock worth $560,000 after buying an additional 50 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Vulcan Materials by 13.6% during the first quarter. Covestor Ltd now owns 425 shares of the construction company’s stock worth $116,000 after buying an additional 51 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Up 0.8 %

VMC opened at $258.50 on Tuesday. Vulcan Materials has a fifty-two week low of $194.40 and a fifty-two week high of $278.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.66 and a current ratio of 2.48. The company has a fifty day moving average of $246.03 and a two-hundred day moving average of $251.88. The stock has a market capitalization of $34.14 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 2.35 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $2.29 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. On average, research analysts expect that Vulcan Materials will post 7.58 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be issued a $0.46 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a yield of 0.71%. Vulcan Materials’s payout ratio is 26.86%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VMC. JPMorgan Chase & Co. lowered their price objective on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Stephens lowered 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. Citigroup lowered their price objective on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada reduced their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, Loop Capital reduced their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $272.45.

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.