Vulcan Materials (NYSE:VMC) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of Vulcan Materials (NYSE:VMC) by 96.9% in the 4th quarter, HoldingsChannel reports. The firm owned 37,928 shares of the construction company’s stock after purchasing an additional 18,664 shares during the period. CIBC Asset Management Inc’s holdings in Vulcan Materials were worth $9,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Vulcan Materials during the 3rd quarter worth $811,000. DAVENPORT & Co LLC grew its stake in Vulcan Materials by 149.4% during the 4th quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock worth $2,416,000 after purchasing an additional 5,627 shares in the last quarter. Smith Group Asset Management LLC purchased a new stake in Vulcan Materials during the 4th quarter worth about $514,000. Campbell Newman Asset Management Inc. purchased a new stake in Vulcan Materials during the 4th quarter worth about $15,719,000. Finally, Franklin Resources Inc. lifted its holdings in Vulcan Materials by 284.9% during the 3rd quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company’s stock worth $11,104,000 after buying an additional 33,051 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Up 0.7 %

Vulcan Materials stock opened at $272.34 on Wednesday. Vulcan Materials has a fifty-two week low of $225.36 and a fifty-two week high of $298.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The company has a market capitalization of $35.96 billion, a P/E ratio of 42.96, a PEG ratio of 2.14 and a beta of 0.84. The stock has a 50-day simple moving average of $267.43 and a 200-day simple moving average of $261.39.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.76 by $0.41. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Equities research analysts expect that Vulcan Materials will post 7.16 earnings per share for the current year.

Vulcan Materials Increases Dividend

The business also recently disclosed 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 is an increase 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 is currently 29.02%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a report on Thursday, January 2nd. Truist Financial lifted their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Raymond James decreased their price target on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday, January 16th. Finally, Barclays lifted their price target on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $301.18.

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.