6,523 Shares in Vulcan Materials (NYSE:VMC) Acquired by Griffin Asset Management Inc.

Griffin Asset Management Inc. bought a new position in shares of Vulcan Materials (NYSE:VMC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,523 shares of the construction company’s stock, valued at approximately $1,634,000.

A number of other large investors have also recently made changes to their positions in VMC. American International Group Inc. increased its stake in shares of Vulcan Materials by 0.4% during the fourth quarter. American International Group Inc. now owns 36,109 shares of the construction company’s stock worth $8,197,000 after buying an additional 131 shares during the period. Trust Co. of Vermont increased its stake in shares of Vulcan Materials by 144.0% during the fourth quarter. Trust Co. of Vermont now owns 244 shares of the construction company’s stock worth $55,000 after buying an additional 144 shares during the period. HighPoint Advisor Group LLC acquired a new position in Vulcan Materials in the fourth quarter valued at approximately $422,000. Moody National Bank Trust Division boosted its holdings in Vulcan Materials by 2.6% in the first quarter. Moody National Bank Trust Division now owns 2,372 shares of the construction company’s stock valued at $647,000 after purchasing an additional 59 shares in the last quarter. Finally, CWM LLC boosted its holdings in Vulcan Materials by 7.9% in the first quarter. CWM LLC now owns 2,680 shares of the construction company’s stock valued at $731,000 after purchasing an additional 197 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VMC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada lowered their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Stephens lowered their price target on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Citigroup lowered 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. Finally, StockNews.com downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $272.45.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $252.79 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. The stock has a fifty day moving average price of $243.63 and a 200 day moving average price of $252.52. Vulcan Materials has a 1-year low of $190.51 and a 1-year high of $278.79. The company has a market cap of $33.43 billion, a PE ratio of 36.90, a P/E/G ratio of 2.28 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.12). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The company’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. Sell-side analysts forecast that Vulcan Materials will post 7.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio is presently 26.86%.

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.