Cohen Klingenstein LLC Trims Stock Holdings in Vulcan Materials (NYSE:VMC)

Cohen Klingenstein LLC cut its stake in Vulcan Materials (NYSE:VMC - Free Report) by 30.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,768 shares of the construction company's stock after selling 9,500 shares during the quarter. Cohen Klingenstein LLC's holdings in Vulcan Materials were worth $5,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VMC. Principal Financial Group Inc. boosted its stake in Vulcan Materials by 19.9% during the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company's stock worth $1,332,431,000 after acquiring an additional 884,580 shares in the last quarter. State Street Corp increased its position in shares of Vulcan Materials by 1.2% during the third 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. FMR LLC raised its stake in shares of Vulcan Materials by 2.2% in the third quarter. FMR LLC now owns 3,660,931 shares of the construction company's stock worth $916,807,000 after purchasing an additional 78,271 shares during the last quarter. Geode Capital Management LLC raised its position in Vulcan Materials by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company's stock worth $826,644,000 after buying an additional 33,061 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Vulcan Materials by 18.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company's stock worth $533,551,000 after acquiring an additional 330,433 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VMC. StockNews.com upgraded shares of Vulcan Materials from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. Stephens reaffirmed an "overweight" rating and issued a $325.00 target price on shares of Vulcan Materials in a report on Thursday, January 2nd. Raymond James reduced their price target on Vulcan Materials from $298.00 to $295.00 and set an "outperform" rating for the company in a research report on Thursday. UBS Group initiated coverage on shares of Vulcan Materials in a research note on Thursday, November 7th. They set a "buy" rating and a $349.00 target price on the stock. Finally, Barclays lifted their target price on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $301.18.

Vulcan Materials Price Performance

Shares of VMC traded up $1.11 during mid-day trading on Friday, hitting $270.28. 668,205 shares of the stock were exchanged, compared to its average volume of 601,795. Vulcan Materials has a 52-week low of $219.73 and a 52-week high of $298.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The firm has a 50-day moving average of $272.63 and a two-hundred day moving average of $258.85. The company has a market cap of $35.69 billion, a PE ratio of 42.63, a price-to-earnings-growth ratio of 1.97 and a beta of 0.83.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The company's revenue was down 8.3% on a year-over-year basis. On average, equities analysts predict that Vulcan Materials will post 7.16 earnings per share for the current year.

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.