Bleakley Financial Group LLC Invests $299,000 in Vulcan Materials (NYSE:VMC)

Posted by Defense World Staff on May 9th, 2023

Bleakley Financial Group LLC purchased a new stake in shares of Vulcan Materials (NYSE:VMC – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,705 shares of the construction company’s stock, valued at approximately $299,000.

Other hedge funds have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its position in shares of Vulcan Materials by 24.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 7,965 shares of the construction company’s stock worth $1,395,000 after purchasing an additional 1,583 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Vulcan Materials by 4.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 28,507 shares of the construction company’s stock valued at $4,496,000 after buying an additional 1,295 shares during the period. M&G Investment Management Ltd. purchased a new position in shares of Vulcan Materials during the 4th quarter valued at $6,048,000. Mutual of America Capital Management LLC increased its stake in shares of Vulcan Materials by 1.3% in the third quarter. Mutual of America Capital Management LLC now owns 21,228 shares of the construction company’s stock worth $3,348,000 after acquiring an additional 278 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Vulcan Materials by 16.7% during the third quarter. CWM LLC now owns 1,683 shares of the construction company’s stock worth $265,000 after acquiring an additional 241 shares in the last quarter. 90.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VMC has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Vulcan Materials from $200.00 to $215.00 in a research note on Friday. Raymond James increased their price objective on Vulcan Materials from $186.00 to $199.00 and gave the stock an “outperform” rating in a report on Wednesday, January 25th. Morgan Stanley reduced their target price on shares of Vulcan Materials from $191.00 to $186.00 and set an “equal weight” rating for the company in a research note on Thursday, April 20th. The Goldman Sachs Group upgraded shares of Vulcan Materials from a “neutral” rating to a “buy” rating and increased their price target for the stock from $188.00 to $212.00 in a research note on Monday, April 3rd. Finally, Seaport Res Ptn reaffirmed a “neutral” rating on shares of Vulcan Materials in a research note on Friday, February 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.00.

Vulcan Materials Stock Down 0.4 %

Vulcan Materials stock opened at $192.83 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.37 and a quick ratio of 1.59. Vulcan Materials has a fifty-two week low of $137.54 and a fifty-two week high of $199.10. The firm has a fifty day moving average price of $172.01 and a two-hundred day moving average price of $175.97. The firm has a market cap of $25.66 billion, a price-to-earnings ratio of 42.66, a P/E/G ratio of 2.14 and a beta of 0.74.

Vulcan Materials (NYSE:VMC – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The construction company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.31. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Vulcan Materials had a return on equity of 10.36% and a net margin of 8.14%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. As a group, analysts forecast that Vulcan Materials will post 5.91 earnings per share for the current year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 20th. Stockholders of record on Monday, March 6th were paid a $0.43 dividend. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, March 3rd. This represents a $1.72 annualized dividend and a dividend yield of 0.89%. Vulcan Materials’s dividend payout ratio (DPR) is presently 38.05%.

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.