Jessup Wealth Management Inc Has $7.20 Million Stock Position in Vulcan Materials (NYSE:VMC)

Jessup Wealth Management Inc lifted its stake in shares of Vulcan Materials (NYSE:VMC) by 23.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,994 shares of the construction company’s stock after buying an additional 5,382 shares during the period. Vulcan Materials comprises approximately 3.1% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 11th biggest position. Jessup Wealth Management Inc’s holdings in Vulcan Materials were worth $7,201,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after acquiring an additional 884,580 shares during the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of Vulcan Materials by 136.3% during the third quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock worth $89,117,000 after purchasing an additional 205,260 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Vulcan Materials by 32.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company’s stock worth $184,353,000 after purchasing an additional 178,634 shares during the last quarter. Artemis Investment Management LLP increased its holdings in Vulcan Materials by 67.9% in the fourth quarter. Artemis Investment Management LLP now owns 402,106 shares of the construction company’s stock valued at $103,434,000 after purchasing an additional 162,567 shares during the period. Finally, Stockbridge Partners LLC raised its position in Vulcan Materials by 9.6% during the 3rd quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company’s stock worth $392,815,000 after purchasing an additional 137,365 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on VMC. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Citigroup decreased their target price on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on shares of Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Stephens reiterated an “overweight” rating and set a $325.00 price objective on shares of Vulcan Materials in a research report on Thursday, January 2nd. Finally, Truist Financial boosted their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average target price of $303.82.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $264.84 on Thursday. The business has a 50-day simple moving average of $267.35 and a 200 day simple moving average of $261.43. Vulcan Materials has a one year low of $225.36 and a one year high of $298.31. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. The firm has a market capitalization of $34.98 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 2.09 and a beta of 0.84.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.76 by $0.41. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. During the same quarter in the previous year, the company posted $1.46 earnings per share. On average, research analysts anticipate that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.96 dividend on an annualized basis and a yield of 0.74%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is 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.