Assenagon Asset Management S.A. Raises Holdings in Vulcan Materials (NYSE:VMC)

Assenagon Asset Management S.A. lifted its holdings in Vulcan Materials (NYSE:VMC) by 113.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,497 shares of the construction company’s stock after purchasing an additional 102,944 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Vulcan Materials were worth $49,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of VMC. Ashton Thomas Securities LLC bought a new stake in Vulcan Materials in the 3rd quarter worth about $30,000. Concord Wealth Partners purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at about $35,000. Washington Trust Advisors Inc. grew its stake in shares of Vulcan Materials by 240.4% in the third quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock worth $40,000 after acquiring an additional 113 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Vulcan Materials during the third quarter valued at approximately $42,000. Finally, Asset Dedication LLC lifted its position in Vulcan Materials by 146.5% during the third quarter. Asset Dedication LLC now owns 175 shares of the construction company’s stock valued at $44,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $268.29 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. Vulcan Materials has a 1 year low of $219.73 and a 1 year high of $298.31. The firm has a fifty day moving average price of $273.95 and a 200-day moving average price of $258.43. The stock has a market cap of $35.43 billion, a PE ratio of 42.32, a price-to-earnings-growth ratio of 2.67 and a beta of 0.83.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 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 the consensus estimate of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. Vulcan Materials’s revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 earnings per share. Equities analysts anticipate that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. UBS Group initiated coverage on Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 target price on the stock. Citigroup dropped their target price on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a research report on Thursday, January 2nd. Finally, StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.18.

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.