First Commonwealth Financial Corp PA Lowers Stock Position in Vulcan Materials (NYSE:VMC)

by · The Markets Daily

First Commonwealth Financial Corp PA decreased its position in Vulcan Materials (NYSE:VMC – Free Report) by 3.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,368 shares of the construction company’s stock after selling 92 shares during the period. First Commonwealth Financial Corp PA’s holdings in Vulcan Materials were worth $593,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of VMC. Janus Henderson Group PLC raised its holdings in Vulcan Materials by 62.1% in the 1st quarter. Janus Henderson Group PLC now owns 30,226 shares of the construction company’s stock worth $8,247,000 after purchasing an additional 11,583 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Vulcan Materials in the 1st quarter worth $282,000. California State Teachers Retirement System raised its position in Vulcan Materials by 3.3% during the first quarter. California State Teachers Retirement System now owns 237,309 shares of the construction company’s stock worth $64,766,000 after acquiring an additional 7,552 shares during the period. Tidal Investments LLC lifted its holdings in Vulcan Materials by 87.1% during the first quarter. Tidal Investments LLC now owns 9,591 shares of the construction company’s stock valued at $2,618,000 after purchasing an additional 4,466 shares in the last quarter. Finally, Plato Investment Management Ltd grew its position in shares of Vulcan Materials by 25,060.0% in the first quarter. Plato Investment Management Ltd now owns 1,258 shares of the construction company’s stock valued at $343,000 after purchasing an additional 1,253 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Trading Up 0.2 %

Vulcan Materials stock traded up $0.68 during mid-day trading on Wednesday, hitting $289.08. The company’s stock had a trading volume of 16,142 shares, compared to its average volume of 835,854. Vulcan Materials has a 1 year low of $209.60 and a 1 year high of $298.31. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $38.18 billion, a PE ratio of 45.49, a price-to-earnings-growth ratio of 2.81 and a beta of 0.81. The stock’s fifty day moving average is $263.07 and its two-hundred day moving average is $254.79.

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

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is 29.02%.

Wall Street Analyst Weigh In

VMC has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday. Royal Bank of Canada lowered their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Stephens dropped their price target on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Truist Financial lifted their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $283.92.

Get Our Latest Stock Analysis on Vulcan Materials

About Vulcan Materials

(Free Report)

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.

Further Reading

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