Point72 Europe London LLP Purchases New Shares in Vulcan Materials (NYSE:VMC)

Point72 Europe London LLP purchased a new stake in shares of Vulcan Materials (NYSE:VMC) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 72,887 shares of the construction company’s stock, valued at approximately $18,253,000. Vulcan Materials accounts for about 1.2% of Point72 Europe London LLP’s holdings, making the stock its 17th largest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of VMC. Janus Henderson Group PLC raised its holdings in Vulcan Materials by 62.1% during the 1st quarter. Janus Henderson Group PLC now owns 30,226 shares of the construction company’s stock valued at $8,247,000 after buying an additional 11,583 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Vulcan Materials during the 1st quarter valued at $282,000. Swedbank AB purchased a new stake in Vulcan Materials in the first quarter worth $519,000. Cetera Investment Advisers increased its stake in Vulcan Materials by 111.5% in the first quarter. Cetera Investment Advisers now owns 14,423 shares of the construction company’s stock worth $3,936,000 after purchasing an additional 7,603 shares during the period. Finally, Cetera Advisors LLC increased its stake in Vulcan Materials by 118.1% in the first quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock worth $1,132,000 after purchasing an additional 2,245 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of VMC stock opened at $288.16 on Friday. Vulcan Materials has a 1-year low of $209.60 and a 1-year high of $298.31. The stock’s 50-day moving average is $265.28 and its 200 day moving average is $255.35. The company has a market cap of $38.05 billion, a P/E ratio of 45.45, a PEG ratio of 2.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the business earned $2.29 EPS. Vulcan Materials’s revenue for the quarter was down 8.3% compared to the same quarter last year. Research analysts predict that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.64%. The ex-dividend date was Monday, November 4th. Vulcan Materials’s dividend payout ratio is presently 29.02%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup reduced their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. UBS Group assumed coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 target price on the stock. Stephens reduced their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Truist Financial increased their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus price target of $283.92.

Vulcan Materials Profile

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.