Jennison Associates LLC decreased its position in Vulcan Materials (NYSE:VMC) by 25.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 392,937 shares of the construction company’s stock after selling 136,741 shares during the quarter. Jennison Associates LLC owned approximately 0.30% of Vulcan Materials worth $38,822,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. First Hawaiian Bank acquired a new position in Vulcan Materials in the 3rd quarter valued at approximately $554,000. BB&T Corp raised its holdings in Vulcan Materials by 39.3% in the 3rd quarter. BB&T Corp now owns 10,407 shares of the construction company’s stock valued at $1,157,000 after acquiring an additional 2,934 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Vulcan Materials by 19.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 7,484 shares of the construction company’s stock valued at $832,000 after acquiring an additional 1,243 shares in the last quarter. Arlington Partners LLC acquired a new position in Vulcan Materials in the 3rd quarter valued at approximately $111,000. Finally, Exane Derivatives raised its holdings in Vulcan Materials by 114.0% in the 3rd quarter. Exane Derivatives now owns 1,778 shares of the construction company’s stock valued at $198,000 after acquiring an additional 947 shares in the last quarter. Hedge funds and other institutional investors own 97.31% of the company’s stock.
Shares of VMC opened at $113.16 on Wednesday. Vulcan Materials has a 1 year low of $82.52 and a 1 year high of $133.59. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $14.94 billion, a PE ratio of 27.94, a P/E/G ratio of 1.03 and a beta of 0.93.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Thursday, February 14th. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. Vulcan Materials had a return on equity of 10.71% and a net margin of 11.77%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm posted $0.74 EPS. Vulcan Materials’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts expect that Vulcan Materials will post 4.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 22nd will be issued a $0.31 dividend. The ex-dividend date is Thursday, February 21st. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.10%. Vulcan Materials’s dividend payout ratio is presently 27.65%.
VMC has been the subject of several recent research reports. Nomura initiated coverage on Vulcan Materials in a report on Monday, October 29th. They issued a “neutral” rating and a $100.00 price target for the company. Citigroup cut their price target on Vulcan Materials from $130.00 to $128.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. ValuEngine raised Vulcan Materials from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. Zacks Investment Research raised Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, Deutsche Bank initiated coverage on Vulcan Materials in a report on Thursday, January 3rd. They issued a “buy” rating and a $116.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Vulcan Materials presently has a consensus rating of “Buy” and an average price target of $123.00.
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Vulcan Materials Company Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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.
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