Waverton Investment Management Ltd Has $47.30 Million Stake in Vulcan Materials (NYSE:VMC)

Waverton Investment Management Ltd boosted its position in Vulcan Materials (NYSE:VMC) by 25.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188,948 shares of the construction company’s stock after purchasing an additional 38,329 shares during the quarter. Vulcan Materials comprises about 0.8% of Waverton Investment Management Ltd’s portfolio, making the stock its 29th biggest holding. Waverton Investment Management Ltd’s holdings in Vulcan Materials were worth $47,302,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VMC. Ashton Thomas Securities LLC bought a new position in Vulcan Materials during the third quarter worth about $30,000. Legacy Capital Wealth Partners LLC grew its position in shares of Vulcan Materials by 7.2% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,643 shares of the construction company’s stock worth $412,000 after purchasing an additional 110 shares in the last quarter. Axxcess Wealth Management LLC raised its position in shares of Vulcan Materials by 44.9% in the third quarter. Axxcess Wealth Management LLC now owns 4,325 shares of the construction company’s stock valued at $1,083,000 after buying an additional 1,340 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of Vulcan Materials by 33.0% in the third quarter. Sigma Planning Corp now owns 2,577 shares of the construction company’s stock valued at $645,000 after buying an additional 639 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its position in Vulcan Materials by 100.2% during the third quarter. Mesirow Financial Investment Management Inc. now owns 3,834 shares of the construction company’s stock worth $960,000 after buying an additional 1,919 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on VMC. Truist Financial lifted their price objective on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. reduced their price objective on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Citigroup decreased their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays upped their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.46.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $292.04 on Tuesday. The stock has a market cap of $38.57 billion, a price-to-earnings ratio of 46.06, a P/E/G ratio of 2.81 and a beta of 0.81. The company’s fifty day moving average is $251.73 and its 200 day moving average is $253.13. 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 $209.39 and a twelve month high of $298.31.

Vulcan Materials (NYSE:VMC) last released its 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 during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm earned $2.29 EPS. Vulcan Materials’s quarterly revenue was down 8.3% on a year-over-year basis. Sell-side analysts forecast that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 dividend yield of 0.63%. Vulcan Materials’s dividend payout ratio is presently 29.02%.

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.