Vaughan Nelson Investment Management L.P. Grows Position in Vulcan Materials (NYSE:VMC)

Vaughan Nelson Investment Management L.P. raised its stake in shares of Vulcan Materials (NYSE:VMC) by 15.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,620 shares of the construction company’s stock after acquiring an additional 31,131 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Vulcan Materials were worth $59,757,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Vulcan Materials by 5.0% during the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after purchasing an additional 755,991 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Vulcan Materials by 19.9% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Vulcan Materials by 18.4% in the 3rd 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 last quarter. Capital World Investors bought a new position in shares of Vulcan Materials in the first quarter valued at approximately $388,027,000. Finally, Vontobel Holding Ltd. increased its position in shares of Vulcan Materials by 7.1% during the third quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock valued at $342,971,000 after acquiring an additional 91,318 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. UBS Group began coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target on the stock. Barclays raised their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada decreased their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $280.46.

Vulcan Materials Stock Performance

Shares of VMC opened at $279.28 on Friday. 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 stock has a market capitalization of $36.88 billion, a price-to-earnings ratio of 44.05, a price-to-earnings-growth ratio of 2.68 and a beta of 0.81. Vulcan Materials has a 52-week low of $209.39 and a 52-week high of $298.31. The stock’s 50-day simple moving average is $256.67 and its 200 day simple moving average is $254.09.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 earnings per share. Research analysts forecast that Vulcan Materials will post 7.2 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.66%. Vulcan Materials’s payout ratio is currently 29.02%.

About Vulcan Materials

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.