Carillon Tower Advisers Inc. boosted its stake in Vulcan Materials (NYSE:VMC) by 2.2% during the first quarter, HoldingsChannel.com reports. The firm owned 101,800 shares of the construction company’s stock after buying an additional 2,225 shares during the period. Carillon Tower Advisers Inc.’s holdings in Vulcan Materials were worth $12,053,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in VMC. Norges Bank purchased a new position in Vulcan Materials in the 4th quarter worth approximately $91,820,000. FMR LLC increased its stake in Vulcan Materials by 800.7% in the 4th quarter. FMR LLC now owns 975,983 shares of the construction company’s stock worth $96,428,000 after purchasing an additional 867,625 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Vulcan Materials by 17.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,107,631 shares of the construction company’s stock worth $405,835,000 after purchasing an additional 608,504 shares during the period. Principal Financial Group Inc. increased its stake in Vulcan Materials by 20.6% in the 4th quarter. Principal Financial Group Inc. now owns 3,271,027 shares of the construction company’s stock worth $323,178,000 after purchasing an additional 557,792 shares during the period. Finally, Pennsylvania Trust Co purchased a new position in Vulcan Materials in the 1st quarter worth approximately $49,629,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Barclays reissued a “buy” rating and set a $137.00 target price on shares of Vulcan Materials in a research note on Sunday, May 5th. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a research note on Thursday, May 9th. Berenberg Bank assumed coverage on Vulcan Materials in a research note on Wednesday, April 3rd. They set a “hold” rating and a $115.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Vulcan Materials in a research note on Thursday, March 21st. They set an “overweight” rating and a $135.00 target price on the stock. Finally, Goldman Sachs Group raised Vulcan Materials from a “buy” rating to a “conviction-buy” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $124.15.
In related news, insider David P. Clement sold 2,789 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $114.28, for a total value of $318,726.92. Following the sale, the insider now directly owns 4,340 shares of the company’s stock, valued at $495,975.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by corporate insiders.
Shares of VMC stock opened at $129.17 on Wednesday. The firm has a market capitalization of $16.87 billion, a P/E ratio of 31.89, a PEG ratio of 1.51 and a beta of 0.94. Vulcan Materials has a twelve month low of $82.52 and a twelve month high of $133.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 1.64.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.13. The company had revenue of $996.50 million for the quarter, compared to analysts’ expectations of $915.68 million. Vulcan Materials had a return on equity of 10.60% and a net margin of 11.63%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. As a group, equities analysts anticipate that Vulcan Materials will post 4.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.24 annualized dividend and a yield of 0.96%. Vulcan Materials’s payout ratio is 30.62%.
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About Vulcan Materials
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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