Magnetar Financial LLC Grows Stock Holdings in Vulcan Materials (NYSE:VMC)

Magnetar Financial LLC lifted its position in shares of Vulcan Materials (NYSE:VMC) by 86.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,493 shares of the construction company’s stock after buying an additional 5,796 shares during the quarter. Magnetar Financial LLC’s holdings in Vulcan Materials were worth $3,214,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in Vulcan Materials in the 3rd quarter worth $811,000. DAVENPORT & Co LLC lifted its stake in Vulcan Materials by 149.4% in the 4th quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock worth $2,416,000 after purchasing an additional 5,627 shares in the last quarter. Smith Group Asset Management LLC purchased a new stake in Vulcan Materials in the 4th quarter worth $514,000. Campbell Newman Asset Management Inc. purchased a new stake in Vulcan Materials in the 4th quarter worth $15,719,000. Finally, Franklin Resources Inc. lifted its stake in Vulcan Materials by 284.9% in the 3rd quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company’s stock worth $11,104,000 after purchasing an additional 33,051 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of NYSE:VMC opened at $238.66 on Friday. The company has a market capitalization of $31.53 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.03 and a beta of 0.80. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $298.31. The firm’s 50-day moving average is $256.93 and its 200 day moving average is $260.34. 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 issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.76 by $0.41. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same period in the prior year, the firm posted $1.46 EPS. Research analysts predict that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a dividend of $0.49 per share. 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. The ex-dividend date is Monday, March 10th. Vulcan Materials’s dividend payout ratio is presently 28.61%.

Analyst Ratings Changes

Several analysts have commented on VMC shares. Citigroup decreased their price target on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Stifel Nicolaus assumed coverage on shares of Vulcan Materials in a research note on Tuesday, March 4th. They issued a “buy” rating and a $287.00 price target on the stock. Morgan Stanley boosted their target price on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Stephens restated an “overweight” rating and issued a $325.00 target price on shares of Vulcan Materials in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $290.00 to $285.00 in a report on Wednesday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $302.67.

Vulcan Materials Company 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.