Tredje AP fonden Cuts Stock Position in Vulcan Materials (NYSE:VMC)

Tredje AP fonden cut its holdings in shares of Vulcan Materials (NYSE:VMC) by 50.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,492 shares of the construction company’s stock after selling 10,492 shares during the quarter. Tredje AP fonden’s holdings in Vulcan Materials were worth $2,699,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VMC. Geneos Wealth Management Inc. increased its holdings in Vulcan Materials by 16.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 254 shares of the construction company’s stock worth $65,000 after buying an additional 36 shares during the last quarter. Howard Capital Management Inc. increased its stake in shares of Vulcan Materials by 5.2% during the 4th quarter. Howard Capital Management Inc. now owns 906 shares of the construction company’s stock worth $233,000 after purchasing an additional 45 shares during the last quarter. Washington Trust Advisors Inc. raised 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 during the period. Sound View Wealth Advisors Group LLC lifted its stake in Vulcan Materials by 4.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,169 shares of the construction company’s stock valued at $301,000 after purchasing an additional 48 shares during the last quarter. Finally, Huntington National Bank grew its holdings in Vulcan Materials by 2.3% during the third quarter. Huntington National Bank now owns 2,268 shares of the construction company’s stock valued at $568,000 after purchasing an additional 52 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on VMC shares. JPMorgan Chase & Co. boosted their target price on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Stifel Nicolaus started coverage on shares of Vulcan Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $287.00 price objective on the stock. Morgan Stanley increased their target price on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Raymond James lowered their price target on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday, January 16th. Finally, Stephens reiterated an “overweight” rating and issued a $325.00 price objective on shares of Vulcan Materials in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $303.08.

Vulcan Materials Price Performance

NYSE:VMC opened at $225.39 on Friday. Vulcan Materials has a 52-week low of $215.08 and a 52-week high of $298.31. The stock has a fifty day moving average of $258.80 and a 200 day moving average of $260.55. 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 firm has a market capitalization of $29.78 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last issued 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 company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. On average, research analysts expect that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid 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 0.87%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s dividend payout ratio is currently 28.61%.

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.