Chevy Chase Trust Holdings LLC Reduces Stock Holdings in Vulcan Materials (NYSE:VMC)

Chevy Chase Trust Holdings LLC lowered its position in Vulcan Materials (NYSE:VMC) by 2.1% in the fourth quarter, HoldingsChannel reports. The firm owned 69,965 shares of the construction company’s stock after selling 1,500 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Vulcan Materials were worth $17,997,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Vulcan Materials by 19.9% during the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after buying an additional 884,580 shares during the period. State Street Corp boosted its stake in Vulcan Materials by 1.2% during the third quarter. State Street Corp now owns 5,281,102 shares of the construction company’s stock worth $1,322,546,000 after buying an additional 65,163 shares during the period. FMR LLC boosted its stake in Vulcan Materials by 2.2% during the third quarter. FMR LLC now owns 3,660,931 shares of the construction company’s stock worth $916,807,000 after buying an additional 78,271 shares during the period. Geode Capital Management LLC boosted its stake in Vulcan Materials by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company’s stock worth $826,644,000 after buying an additional 33,061 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in 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 buying an additional 330,433 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VMC shares. JPMorgan Chase & Co. increased their target price on shares of Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Barclays increased their target price on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Stephens reissued an “overweight” rating and issued a $325.00 price objective on shares of Vulcan Materials in a research note on Thursday, January 2nd. Truist Financial raised their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Raymond James lowered their price objective on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and an average target price of $301.18.

Vulcan Materials Stock Up 0.5 %

Shares of NYSE:VMC opened at $270.58 on Friday. The firm’s 50 day moving average price is $267.64 and its 200 day moving average price is $261.55. The stock has a market cap of $35.73 billion, a price-to-earnings ratio of 42.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.84. Vulcan Materials has a fifty-two week low of $225.36 and a fifty-two week high of $298.31. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.49 dividend. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.72%. Vulcan Materials’s dividend payout ratio (DPR) is 29.02%.

Vulcan Materials 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.