Voya Investment Management LLC Buys 82,706 Shares of Vulcan Materials Company $VMC

Voya Investment Management LLC boosted its stake in Vulcan Materials Company (NYSE:VMC) by 25.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 412,175 shares of the construction company’s stock after buying an additional 82,706 shares during the quarter. Voya Investment Management LLC’s holdings in Vulcan Materials were worth $126,339,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. ORG Partners LLC raised its holdings in shares of Vulcan Materials by 86.3% in the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Vulcan Materials in the 2nd quarter worth about $32,000. Concord Wealth Partners purchased a new stake in Vulcan Materials in the 2nd quarter valued at about $33,000. Steph & Co. purchased a new stake in Vulcan Materials in the 2nd quarter valued at about $55,000. Finally, Clearstead Trust LLC lifted its position in shares of Vulcan Materials by 71.7% during the 2nd quarter. Clearstead Trust LLC now owns 218 shares of the construction company’s stock worth $57,000 after buying an additional 91 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VMC has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Raymond James Financial boosted their price objective on Vulcan Materials from $295.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. DA Davidson upped their price objective on Vulcan Materials from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Citigroup decreased their target price on Vulcan Materials from $356.00 to $342.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Finally, Wells Fargo & Company upgraded Vulcan Materials to a “hold” rating in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $317.58.

Vulcan Materials Trading Up 1.3%

Shares of VMC stock opened at $292.11 on Friday. The stock has a market capitalization of $38.60 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 2.36 and a beta of 1.06. The company’s fifty day simple moving average is $292.18 and its two-hundred day simple moving average is $284.71. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $311.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.23 and a quick ratio of 1.56.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.12. Vulcan Materials had a return on equity of 13.47% and a net margin of 14.19%.The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the business earned $2.22 earnings per share. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Monday, November 10th were given a dividend of $0.49 per share. The ex-dividend date was Monday, November 10th. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio is currently 23.28%.

Insider Activity

In other news, SVP David P. Clement sold 2,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $288.55, for a total value of $577,100.00. Following the sale, the senior vice president directly owned 832 shares of the company’s stock, valued at approximately $240,073.60. This represents a 70.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Thompson S. Baker II sold 7,135 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $300.81, for a total transaction of $2,146,279.35. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,471 shares of company stock worth $6,054,615 over the last ninety days. Company insiders own 0.62% of the company’s stock.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.