Nordea Investment Management AB Grows Stake in Vulcan Materials (NYSE:VMC)

Posted by on May 12th, 2023

Nordea Investment Management AB grew its position in shares of Vulcan Materials (NYSE:VMC – Get Rating) by 50.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,993 shares of the construction company’s stock after purchasing an additional 6,006 shares during the period. Nordea Investment Management AB’s holdings in Vulcan Materials were worth $3,143,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CI Investments Inc. grew its position in shares of Vulcan Materials by 956.3% during the 3rd quarter. CI Investments Inc. now owns 169 shares of the construction company’s stock valued at $27,000 after purchasing an additional 153 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in shares of Vulcan Materials during the 1st quarter valued at $29,000. General Partner Inc. purchased a new position in shares of Vulcan Materials during the 4th quarter valued at $30,000. HBC Financial Services PLLC bought a new stake in shares of Vulcan Materials during the 4th quarter worth $30,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Vulcan Materials by 302.2% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 181 shares of the construction company’s stock worth $32,000 after acquiring an additional 136 shares during the last quarter. 90.08% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Price Performance

Shares of VMC opened at $194.83 on Friday. The stock has a market cap of $25.92 billion, a PE ratio of 43.10, a price-to-earnings-growth ratio of 1.49 and a beta of 0.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.59 and a current ratio of 2.37. Vulcan Materials has a fifty-two week low of $137.54 and a fifty-two week high of $199.10. The firm’s 50-day simple moving average is $172.84 and its two-hundred day simple moving average is $176.50.

Vulcan Materials (NYSE:VMC – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The construction company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.31. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Vulcan Materials had a net margin of 8.14% and a return on equity of 10.36%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 earnings per share. Analysts anticipate that Vulcan Materials will post 6.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VMC has been the subject of a number of research analyst reports. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Vulcan Materials in a report on Friday, February 10th. Truist Financial lifted their price objective on shares of Vulcan Materials from $210.00 to $225.00 in a report on Friday, February 17th. The Goldman Sachs Group raised shares of Vulcan Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $188.00 to $212.00 in a report on Monday, April 3rd. Raymond James lifted their price objective on shares of Vulcan Materials from $186.00 to $199.00 and gave the stock an “outperform” rating in a report on Wednesday, January 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Vulcan Materials from $200.00 to $215.00 in a research note on Friday, May 5th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.08.

About Vulcan Materials

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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.

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

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