Oppenheimer Asset Management Inc. Reduces Position in Vulcan Materials (NYSE:VMC)

Posted by on May 6th, 2023

Oppenheimer Asset Management Inc. decreased its holdings in Vulcan Materials (NYSE:VMC – Get Rating) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,204 shares of the construction company’s stock after selling 678 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Vulcan Materials were worth $1,086,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Moors & Cabot Inc. purchased a new stake in Vulcan Materials in the fourth quarter worth $226,000. Marks Group Wealth Management Inc lifted its stake in Vulcan Materials by 4.2% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,950 shares of the construction company’s stock worth $341,000 after acquiring an additional 78 shares during the period. Daiwa Securities Group Inc. lifted its stake in Vulcan Materials by 19.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 21,202 shares of the construction company’s stock worth $3,713,000 after acquiring an additional 3,462 shares during the period. Pacer Advisors Inc. lifted its stake in Vulcan Materials by 1,158.5% in the fourth quarter. Pacer Advisors Inc. now owns 3,398 shares of the construction company’s stock worth $595,000 after acquiring an additional 3,128 shares during the period. Finally, Ieq Capital LLC raised its holdings in Vulcan Materials by 8.2% in the fourth quarter. Ieq Capital LLC now owns 3,598 shares of the construction company’s stock worth $630,000 after purchasing an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 90.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Vulcan Materials from $200.00 to $215.00 in a report on Friday. StockNews.com assumed coverage on Vulcan Materials in a report on Thursday, March 16th. They issued a “hold” rating for the company. Seaport Res Ptn reiterated a “neutral” rating on shares of Vulcan Materials in a report on Friday, February 10th. Citigroup increased their price objective on Vulcan Materials from $194.00 to $211.00 in a report on Tuesday, January 10th. Finally, Truist Financial raised their price target on Vulcan Materials from $210.00 to $225.00 in a report on Friday, February 17th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $207.00.

Vulcan Materials Price Performance

NYSE VMC opened at $193.57 on Friday. Vulcan Materials has a one year low of $137.54 and a one year high of $199.10. The stock has a 50-day moving average of $171.79 and a 200 day moving average of $175.40. The company has a market capitalization of $25.76 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 2.10 and a beta of 0.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.38 and a current ratio of 2.37.

Vulcan Materials (NYSE:VMC – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The construction company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.64 by $0.31. Vulcan Materials had a return on equity of 10.36% and a net margin of 8.14%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the company earned $0.73 EPS. Vulcan Materials’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts forecast that Vulcan Materials will post 5.91 EPS for the current year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 20th. Shareholders of record on Monday, March 6th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.89%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, March 3rd. Vulcan Materials’s dividend payout ratio (DPR) is presently 39.91%.

Vulcan Materials Profile

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Vulcan Materials Co engages in the production of construction aggregates. Its products include crushed stone, sand, and gravel. It operates through the following business segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment produces and sells asphalt mix and ready-mixed concrete primarily in its mid-Atlantic, Georgia, Southwestern, Tennessee, and Western markets.

Further Reading

Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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