Wells Fargo & Company MN Has $113.28 Million Stock Position in Vulcan Materials (NYSE:VMC)

Wells Fargo & Company MN increased its stake in shares of Vulcan Materials (NYSE:VMC) by 0.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 440,367 shares of the construction company’s stock after acquiring an additional 3,992 shares during the period. Wells Fargo & Company MN’s holdings in Vulcan Materials were worth $113,276,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Westpac Banking Corp bought a new stake in shares of Vulcan Materials in the 4th quarter worth about $111,000. Nicolet Advisory Services LLC increased its holdings in Vulcan Materials by 12.1% during the 4th quarter. Nicolet Advisory Services LLC now owns 1,327 shares of the construction company’s stock valued at $334,000 after purchasing an additional 143 shares in the last quarter. Huntington National Bank grew its holdings in shares of Vulcan Materials by 9.7% during the fourth quarter. Huntington National Bank now owns 2,488 shares of the construction company’s stock worth $640,000 after purchasing an additional 220 shares during the last quarter. Groupama Asset Managment increased its stake in shares of Vulcan Materials by 12.8% in the fourth quarter. Groupama Asset Managment now owns 11,014 shares of the construction company’s stock valued at $2,843,000 after buying an additional 1,246 shares in the last quarter. Finally, Elwood Capital Partners LP acquired a new stake in shares of Vulcan Materials in the fourth quarter valued at $965,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Down 2.6 %

Shares of VMC stock opened at $230.98 on Monday. The company has a market capitalization of $30.55 billion, a price-to-earnings ratio of 33.72, a P/E/G 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 has a fifty day moving average of $250.05 and a 200-day moving average of $260.62. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.41. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. During the same quarter last year, the business posted $1.46 EPS. As a group, equities research analysts predict that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on VMC. Royal Bank of Canada boosted their price objective on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted 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. Raymond James cut their price target on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised Vulcan Materials from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $290.00 to $285.00 in a research note on Wednesday, March 19th. Finally, Loop Capital cut their target price on Vulcan Materials from $325.00 to $320.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and an average price target of $305.58.

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.