Fmr LLC Cuts Stake in Vulcan Materials (NYSE:VMC)

FMR LLC trimmed its stake in Vulcan Materials (NYSE:VMC - Free Report) by 7.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,392,525 shares of the construction company's stock after selling 268,406 shares during the quarter. FMR LLC owned approximately 2.57% of Vulcan Materials worth $872,659,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VMC. Norges Bank acquired a new stake in shares of Vulcan Materials during the fourth quarter valued at approximately $380,369,000. Principal Financial Group Inc. grew its position in Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company's stock worth $1,332,431,000 after purchasing an additional 884,580 shares in the last quarter. Proficio Capital Partners LLC grew its position in Vulcan Materials by 28,529.4% during the 4th quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company's stock worth $134,694,000 after purchasing an additional 521,802 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Vulcan Materials during the 4th quarter valued at $74,760,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Vulcan Materials by 125.0% in the fourth quarter. HighTower Advisors LLC now owns 335,984 shares of the construction company's stock valued at $86,425,000 after purchasing an additional 186,641 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VMC has been the subject of a number of research reports. Stephens reissued an "overweight" rating and set a $325.00 target price on shares of Vulcan Materials in a research note on Thursday, January 2nd. UBS Group downgraded shares of Vulcan Materials from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $343.00 to $258.00 in a research report on Monday, April 7th. Raymond James dropped 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 note on Thursday, January 16th. Citigroup reaffirmed a "buy" rating on shares of Vulcan Materials in a research note on Monday, March 24th. Finally, Stifel Nicolaus started coverage on shares of Vulcan Materials in a report on Tuesday, March 4th. They issued a "buy" rating and a $287.00 price objective for the company. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $298.00.

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Vulcan Materials Price Performance

Shares of NYSE:VMC traded up $6.71 during trading on Friday, hitting $242.29. 1,636,343 shares of the company were exchanged, compared to its average volume of 922,540. Vulcan Materials has a 1-year low of $215.08 and a 1-year high of $298.31. The company has a market capitalization of $32.05 billion, a P/E ratio of 35.37, a price-to-earnings-growth 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. The business's 50 day moving average is $244.44 and its 200-day moving average is $259.69.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, beating 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 firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period last 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 year.

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.49 per share. 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 0.81%. 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.