Geode Capital Management LLC Increases Holdings in Vulcan Materials (NYSE:VMC)

Geode Capital Management LLC lifted its holdings in shares of Vulcan Materials (NYSE:VMC - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,348,418 shares of the construction company's stock after purchasing an additional 36,833 shares during the quarter. Geode Capital Management LLC owned 2.54% of Vulcan Materials worth $859,171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Vulcan Materials during the fourth quarter worth approximately $380,369,000. Principal Financial Group Inc. grew its stake in shares of Vulcan Materials by 19.9% in 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 purchasing an additional 884,580 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Vulcan Materials by 28,529.4% in 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 during the period. Raymond James Financial Inc. bought a new stake in Vulcan Materials during the fourth quarter valued at $74,760,000. Finally, HighTower Advisors LLC grew its stake in Vulcan Materials by 125.0% during the fourth quarter. HighTower Advisors LLC now owns 335,984 shares of the construction company's stock worth $86,425,000 after purchasing an additional 186,641 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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Vulcan Materials Stock Down 2.6 %

Vulcan Materials stock traded down $6.20 during midday trading on Friday, reaching $230.98. The company's stock had a trading volume of 2,850,857 shares, compared to its average volume of 889,522. The stock has a market capitalization of $30.55 billion, a P/E ratio of 33.72, a PEG ratio of 2.03 and a beta of 0.80. Vulcan Materials has a 52-week low of $215.08 and a 52-week high of $298.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. The stock's 50-day simple moving average is $250.05 and its 200-day simple moving average is $260.40.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.41. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter last year, the company earned $1.46 EPS. On average, sell-side analysts expect that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Vulcan Materials from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $290.00 to $285.00 in a research report on Wednesday, March 19th. Morgan Stanley increased their price objective on Vulcan Materials from $295.00 to $300.00 and gave the company an "equal weight" rating in a report on Monday, February 24th. 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 research report on Tuesday. Stephens restated an "overweight" rating and issued a $325.00 target price on shares of Vulcan Materials in a research note on Thursday, January 2nd. Finally, Raymond James lowered their price objective on Vulcan Materials from $298.00 to $295.00 and set an "outperform" rating on the stock in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Vulcan Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $305.58.

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.