Westpac Banking Corp Takes Position in Vulcan Materials (NYSE:VMC)

Westpac Banking Corp purchased a new position in Vulcan Materials (NYSE:VMC) during the fourth quarter, HoldingsChannel reports. The firm purchased 433 shares of the construction company’s stock, valued at approximately $111,000.

A number of other hedge funds also recently bought and sold shares of VMC. Murphy & Mullick Capital Management Corp purchased a new position in Vulcan Materials in the fourth quarter worth about $30,000. SBI Securities Co. Ltd. purchased a new position in Vulcan Materials in the 4th quarter worth approximately $31,000. Generali Asset Management SPA SGR bought a new position in Vulcan Materials in the 4th quarter valued at approximately $32,000. UMB Bank n.a. boosted its stake in Vulcan Materials by 138.5% during the 4th quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock valued at $48,000 after purchasing an additional 108 shares during the last quarter. Finally, Washington Trust Advisors Inc. increased its holdings in shares of Vulcan Materials by 30.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company’s stock worth $54,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on VMC shares. Stifel Nicolaus initiated coverage on Vulcan Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $287.00 price target on the stock. Royal Bank of Canada upped their target price on shares of Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 19th. Morgan Stanley lifted their price target on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Loop Capital lowered their price objective on shares of Vulcan Materials from $325.00 to $320.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $290.00 to $285.00 in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.58.

Vulcan Materials Price Performance

NYSE VMC opened at $230.98 on Friday. The business’s fifty day moving average is $250.05 and its 200 day moving average is $260.40. Vulcan Materials has a fifty-two week low of $215.08 and a fifty-two week high of $298.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.02 and a current ratio of 1.83. The company has a market capitalization of $30.55 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.41. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. During the same period in the previous year, the firm earned $1.46 EPS. Sell-side analysts predict that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a $0.49 dividend. The ex-dividend date was Monday, March 10th. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.85%. Vulcan Materials’s dividend payout ratio is 28.61%.

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.