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Highlights
-Advisors Asset cuts Vulcan Materials (NYSE:VMC) stake by 6%.
-Q3 earnings miss.
-Analysts maintain buy with new price targets.
Vulcan Materials Company (NYSE:VMC), a leading producer of construction materials, has seen notable changes in its stock holdings, with Advisors Asset Management Inc. reducing its position by 6.0%. As a major player in the metals and mining industry, Vulcan Materials falls under the NYSE Metals and Mining Stock sector . This article highlights recent stock movements, earnings results, and analyst insights.
Advisors Asset Management Inc. Trims Stake in Vulcan Materials (NYSE:VMC)
Advisors Asset Management Inc. has decreased its holdings in Vulcan Materials Company (NYSE:VMC) by 6.0% during the third quarter, according to its most recent 13F filing. The fund now holds 35,492 shares of the construction and materials company, having sold 2,278 shares during the period. Vulcan Materials, a key player in the building materials sector, is currently experiencing mixed stock performance amidst market fluctuations.
Several institutional investors have also modified their positions in Vulcan Materials, with SouthState Corp seeing a significant increase of 669.2% in the second quarter. Other entities such as Kings Path Partners LLC and Ashton Thomas Securities LLC have also made adjustments to their holdings in the company. Notably, institutional investors collectively own 90.39% of Vulcan Materials stock.
Vulcan Materials (NYSE:VMC) Shows Moderate Stock Movement
Despite fluctuations in institutional holdings, Vulcan Materials stock has faced slight pressure. As of the most recent trading session, the stock was down by 0.1%, opening at $277.81. The Company shares have experienced a 52-week range between $209.60 and $298.31. With a market capitalization of $36.69 billion and a beta of 0.81, the company continues to remain relatively stable in comparison to broader market movements.
Q3 Earnings Miss Analyst Expectations
Vulcan Materials reported its Q3 earnings, revealing $2.22 in earnings per share (EPS), missing analysts consensus of $2.34 by a margin of $0.12. This reflects a slight decline from the $2.29 EPS reported in the same quarter last year. The company revenue for the quarter stood at $2 billion, which was just slightly above analyst estimates of $2.01 billion. Despite the earnings miss, the company maintains a net margin of 11.43% and continues to show steady returns on equity of 11.88%.
Dividend Announcement and Analysts View
Vulcan Materials has also announced a quarterly dividend of $0.46 per share, payable on November 27th to shareholders of record as of November 4th. This brings its annualized dividend to $1.84, offering a yield of 0.66%. Analysts, however, have mixed views on the Company stock, with a consensus rating of Moderate Buy and an average price target of $280.46. Some analysts have adjusted their price targets based on recent performance, with Truist Financial raising their target to $315.00, while others such as Royal Bank of Canada and Citigroup have lowered their targets.
As the construction and materials sector experiences shifts, Vulcan Materials future performance will depend on broader market conditions and investor sentiment.
Vulcan Materials Company remains a significant player in the metals and mining sector, with recent adjustments in institutional holdings and market fluctuations. While the company faces some challenges, including missed earnings estimates, its strong position in the construction materials industry and consistent dividend payouts suggest it remains a key stock to monitor in this space.
