Allstate Corp Acquires Shares of 3,861 Vulcan Materials (NYSE:VMC)

Allstate Corp bought a new position in Vulcan Materials (NYSE:VMC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,861 shares of the construction company's stock, valued at approximately $993,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Vulcan Materials by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,352,507 shares of the construction company's stock valued at $4,206,355,000 after purchasing an additional 90,157 shares during the period. Principal Financial Group Inc. grew its holdings in Vulcan Materials by 13.9% in the 4th quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company's stock worth $1,559,380,000 after buying an additional 741,631 shares in the last quarter. State Street Corp raised its stake in Vulcan Materials by 1.2% during the 3rd quarter. State Street Corp now owns 5,281,102 shares of the construction company's stock valued at $1,322,546,000 after acquiring an additional 65,163 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 worth $826,644,000 after acquiring an additional 33,061 shares during the period. Finally, Norges Bank acquired a new position in shares of Vulcan Materials during the fourth quarter valued at $380,369,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on VMC. Citigroup decreased their target price on Vulcan Materials from $325.00 to $301.00 and set a "buy" rating for the company in a research note on Monday, January 6th. 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. Loop Capital lowered their price target on shares of Vulcan Materials from $325.00 to $320.00 and set a "buy" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. upgraded Vulcan Materials from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $290.00 to $285.00 in a research note on Wednesday, March 19th. Finally, Seaport Res Ptn upgraded shares of Vulcan Materials to a "strong-buy" rating in a report on Friday, March 21st. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $305.58.

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Vulcan Materials Stock Performance

NYSE VMC traded up $2.89 during midday trading on Wednesday, hitting $240.16. The company had a trading volume of 708,040 shares, compared to its average volume of 873,928. The firm has a fifty day simple moving average of $252.42 and a two-hundred day simple moving average of $260.78. The stock has a market cap of $31.77 billion, a price-to-earnings ratio of 35.06, a P/E/G ratio of 2.03 and a beta of 0.80. 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 has a fifty-two week low of $215.08 and a fifty-two week high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 12.30% and a return on equity of 12.83%. During the same quarter in the previous year, the company earned $1.46 earnings per share. Equities analysts forecast that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.49 dividend. This is a positive change from Vulcan Materials's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.96 annualized dividend and a dividend yield of 0.82%. Vulcan Materials's dividend payout ratio is presently 28.61%.

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.