Corient Private Wealth LLC Reduces Holdings in Vulcan Materials (NYSE:VMC)

Corient Private Wealth LLC lowered its position in Vulcan Materials (NYSE:VMC) by 16.9% in the 4th quarter, HoldingsChannel reports. The fund owned 33,125 shares of the construction company’s stock after selling 6,725 shares during the period. Corient Private Wealth LLC’s holdings in Vulcan Materials were worth $8,521,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Vulcan Materials by 13.9% during the 4th quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company’s stock valued at $1,559,380,000 after acquiring an additional 741,631 shares during the period. State Street Corp grew its position in shares of Vulcan Materials by 1.2% in the third quarter. State Street Corp now owns 5,281,102 shares of the construction company’s stock valued at $1,322,546,000 after purchasing an additional 65,163 shares in the last quarter. FMR LLC grew its position in shares of Vulcan Materials by 2.2% in the third quarter. FMR LLC now owns 3,660,931 shares of the construction company’s stock valued at $916,807,000 after purchasing an additional 78,271 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Vulcan Materials by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company’s stock valued at $826,644,000 after purchasing an additional 33,061 shares during the period. Finally, Stockbridge Partners LLC lifted its holdings in Vulcan Materials by 9.6% during the 3rd quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company’s stock worth $392,815,000 after purchasing an additional 137,365 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $238.66 on Friday. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. The stock has a market cap of $31.53 billion, a PE ratio of 34.84, a PEG ratio of 2.03 and a beta of 0.80. The company’s fifty day moving average is $256.93 and its 200 day moving average is $260.34. Vulcan Materials has a 52 week low of $215.08 and a 52 week high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.76 by $0.41. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. Research analysts anticipate that Vulcan Materials will post 8.69 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 given a $0.49 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.96 annualized dividend and a yield of 0.82%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is presently 28.61%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VMC. Royal Bank of Canada upped their price target on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 19th. Raymond James decreased their target price on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. Morgan Stanley boosted their target price on Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Stephens reissued an “overweight” rating and set a $325.00 price objective on shares of Vulcan Materials in a report on Thursday, January 2nd. Finally, Citigroup dropped their target price on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Vulcan Materials presently has an average rating of “Moderate Buy” and an average price target of $302.67.

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.