Skye Global Management LP Raises Holdings in Vulcan Materials (NYSE:VMC)

Skye Global Management LP grew its position in shares of Vulcan Materials (NYSE:VMC) by 105.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,000 shares of the construction company’s stock after acquiring an additional 80,000 shares during the quarter. Vulcan Materials comprises 0.9% of Skye Global Management LP’s portfolio, making the stock its 16th biggest position. Skye Global Management LP owned about 0.12% of Vulcan Materials worth $39,067,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VMC. Principal Financial Group Inc. raised its holdings in Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after buying an additional 884,580 shares during the period. FMR LLC increased its holdings in Vulcan Materials by 2.2% in the 3rd quarter. FMR LLC now owns 3,660,931 shares of the construction company’s stock valued at $916,807,000 after purchasing an additional 78,271 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Vulcan Materials by 18.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after purchasing an additional 330,433 shares in the last quarter. Stockbridge Partners LLC boosted its position in shares of Vulcan Materials by 9.6% in the third quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company’s stock worth $392,815,000 after buying an additional 137,365 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in shares of Vulcan Materials by 7.1% in the third quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock valued at $342,971,000 after buying an additional 91,318 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Stock Performance

VMC opened at $286.39 on Friday. 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 business’s 50 day moving average is $264.56 and its 200-day moving average is $255.23. The stock has a market cap of $37.82 billion, a PE ratio of 45.17, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81. Vulcan Materials has a twelve month low of $209.60 and a twelve month high of $298.31.

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

Vulcan Materials Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VMC shares. Citigroup decreased their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada lowered their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Truist Financial increased their price target on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stephens cut their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays raised their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $283.92.

Vulcan Materials Company 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.