Cibc World Markets Corp Buys 53,631 Shares of Vulcan Materials (NYSE:VMC)

Cibc World Markets Corp lifted its position in Vulcan Materials (NYSE:VMC) by 298.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,582 shares of the construction company’s stock after purchasing an additional 53,631 shares during the quarter. Cibc World Markets Corp’s holdings in Vulcan Materials were worth $18,413,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in Vulcan Materials in the 4th quarter worth approximately $31,000. UMB Bank n.a. increased its position in Vulcan Materials by 138.5% in the fourth quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock worth $48,000 after purchasing an additional 108 shares during the last quarter. Washington Trust Advisors Inc. increased its position in Vulcan Materials by 30.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company’s stock worth $54,000 after purchasing an additional 48 shares during the last quarter. FSA Wealth Management LLC bought a new position in Vulcan Materials during the third quarter valued at $57,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Vulcan Materials in the 3rd quarter worth $61,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on VMC shares. Royal Bank of Canada upped their target price 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. Stifel Nicolaus assumed coverage on Vulcan Materials in a research note on Tuesday, March 4th. They issued a “buy” rating and a $287.00 price objective for the company. Raymond James dropped their target price on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday, January 16th. Stephens restated an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lifted their price objective 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. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $303.08.

Vulcan Materials Stock Up 1.7 %

Shares of NYSE VMC opened at $235.29 on Tuesday. Vulcan Materials has a 12-month low of $215.08 and a 12-month high of $298.31. The stock’s fifty day simple moving average is $257.85 and its two-hundred day simple moving average is $260.69. The stock has a market capitalization of $31.08 billion, a PE ratio of 34.35, a price-to-earnings-growth 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 (NYSE:VMC) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.41. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company posted $1.46 earnings per share. As a group, analysts expect that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.49 per share. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.83%. Vulcan Materials’s payout ratio is presently 28.61%.

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.