Russell Investments Group Ltd. Sells 3,936 Shares of Vulcan Materials (NYSE:VMC)

Posted by on May 12th, 2023

Russell Investments Group Ltd. cut its holdings in Vulcan Materials (NYSE:VMC – Get Rating) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,147 shares of the construction company’s stock after selling 3,936 shares during the period. Russell Investments Group Ltd. owned 0.05% of Vulcan Materials worth $11,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Artemis Investment Management LLP purchased a new stake in Vulcan Materials in the 4th quarter worth approximately $62,023,000. Palestra Capital Management LLC lifted its stake in Vulcan Materials by 46.8% in the 3rd quarter. Palestra Capital Management LLC now owns 907,462 shares of the construction company’s stock worth $143,116,000 after purchasing an additional 289,462 shares in the last quarter. Vanguard Group Inc. lifted its stake in Vulcan Materials by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 14,535,907 shares of the construction company’s stock worth $2,670,246,000 after purchasing an additional 184,543 shares in the last quarter. Keybank National Association OH lifted its stake in Vulcan Materials by 2,941.1% in the 4th quarter. Keybank National Association OH now owns 158,411 shares of the construction company’s stock worth $27,739,000 after purchasing an additional 153,202 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Vulcan Materials by 11,492.2% in the 3rd quarter. Federated Hermes Inc. now owns 124,268 shares of the construction company’s stock worth $19,598,000 after purchasing an additional 123,196 shares in the last quarter. 90.08% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Stock Performance

Shares of VMC opened at $194.83 on Friday. The company has a quick ratio of 1.59, a current ratio of 2.37 and a debt-to-equity ratio of 0.55. Vulcan Materials has a 52-week low of $137.54 and a 52-week high of $199.10. The stock has a 50 day moving average price of $172.84 and a 200 day moving average price of $176.50. The company has a market capitalization of $25.92 billion, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 1.49 and a beta of 0.74.

Vulcan Materials (NYSE:VMC – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.31. The firm 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%. Vulcan Materials’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. Research analysts predict that Vulcan Materials will post 6.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VMC has been the topic of several recent research reports. 92 Resources reaffirmed a “maintains” rating on shares of Vulcan Materials in a report on Friday, May 5th. Truist Financial boosted their price objective on shares of Vulcan Materials from $210.00 to $225.00 in a report on Friday, February 17th. Atlantic Securities lowered shares of Vulcan Materials from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $180.00 to $185.00 in a research report on Tuesday, January 24th. Seaport Res Ptn reissued a “neutral” rating on shares of Vulcan Materials in a report on Friday, February 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Vulcan Materials from $200.00 to $215.00 in a research note on Friday, May 5th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.08.

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.

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

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