Xn LP Boosts Stock Position in Vulcan Materials (NYSE:VMC)

Xn LP raised its holdings in Vulcan Materials (NYSE:VMC) by 21.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 519,647 shares of the construction company’s stock after acquiring an additional 92,388 shares during the period. Vulcan Materials comprises about 5.4% of Xn LP’s investment portfolio, making the stock its 9th largest holding. Xn LP owned about 0.39% of Vulcan Materials worth $129,226,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VMC. Capital World Investors acquired a new stake in shares of Vulcan Materials during the first quarter worth $388,027,000. Norges Bank acquired a new stake in shares of Vulcan Materials in the 4th quarter valued at about $282,528,000. Vanguard Group Inc. raised its stake in shares of Vulcan Materials by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after purchasing an additional 755,991 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Vulcan Materials by 271.0% in the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock valued at $186,861,000 after purchasing an additional 601,268 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Vulcan Materials by 621.1% during the first quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after buying an additional 203,166 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Trading Up 0.9 %

Vulcan Materials stock opened at $245.12 on Wednesday. The stock has a 50-day simple moving average of $248.48 and a 200 day simple moving average of $255.83. The stock has a market capitalization of $32.37 billion, a P/E ratio of 35.78, a PEG ratio of 2.19 and a beta of 0.82. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.66 and a current ratio of 2.48. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $278.79.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. Analysts expect that Vulcan Materials will post 7.73 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.75%. Vulcan Materials’s dividend payout ratio is currently 26.86%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup dropped their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Truist Financial cut their price objective on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Stephens reduced their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada lowered their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Loop Capital reduced their price objective on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Five 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $274.73.

About Vulcan Materials

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.