Vulcan Materials (NYSE:VMC) Stock Holdings Lessened by Vestcor Inc

Vestcor Inc trimmed its stake in Vulcan Materials (NYSE:VMC) by 17.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,259 shares of the construction company’s stock after selling 469 shares during the quarter. Vestcor Inc’s holdings in Vulcan Materials were worth $581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in VMC. Avantax Advisory Services Inc. raised its position in Vulcan Materials by 24.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 6,605 shares of the construction company’s stock valued at $1,699,000 after acquiring an additional 1,316 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Vulcan Materials by 13.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,250 shares of the construction company’s stock valued at $579,000 after acquiring an additional 263 shares in the last quarter. HighTower Advisors LLC raised its position in Vulcan Materials by 125.0% during the fourth quarter. HighTower Advisors LLC now owns 335,984 shares of the construction company’s stock valued at $86,425,000 after acquiring an additional 186,641 shares in the last quarter. AGF Management Ltd. bought a new position in Vulcan Materials during the fourth quarter valued at approximately $940,000. Finally, Wealthfront Advisers LLC raised its position in Vulcan Materials by 13.4% during the fourth quarter. Wealthfront Advisers LLC now owns 11,027 shares of the construction company’s stock valued at $2,836,000 after acquiring an additional 1,303 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Trading Up 3.0 %

Shares of Vulcan Materials stock opened at $231.70 on Monday. The company’s fifty day simple moving average is $258.29 and its 200-day simple moving average is $260.74. The company has a market cap of $30.61 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.03 and a beta of 0.80. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 1 year low of $215.08 and a 1 year high of $298.31.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.41. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same quarter last year, the company posted $1.46 earnings per share. As a group, sell-side analysts expect that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.49 per share. The ex-dividend date is Monday, March 10th. This represents a $1.96 dividend on an annualized basis and a yield of 0.85%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is currently 28.61%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. raised their price objective on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Stifel Nicolaus initiated coverage on shares of Vulcan Materials in a research report on Tuesday, March 4th. They issued a “buy” rating and a $287.00 price target on the stock. Stephens reissued an “overweight” rating and issued a $325.00 price target on shares of Vulcan Materials in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada lifted their price target on shares of Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $303.08.

About Vulcan Materials

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.