Norges Bank Makes New $380.37 Million Investment in Vulcan Materials (NYSE:VMC)

Norges Bank purchased a new stake in Vulcan Materials (NYSE:VMC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,478,711 shares of the construction company's stock, valued at approximately $380,369,000. Norges Bank owned approximately 1.12% of Vulcan Materials at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of 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 purchasing an additional 884,580 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Vulcan Materials by 22.8% during the 3rd quarter. Cerity Partners LLC now owns 12,698 shares of the construction company's stock worth $3,180,000 after acquiring an additional 2,354 shares in the last quarter. Algert Global LLC purchased a new position in shares of Vulcan Materials in the 3rd quarter valued at about $463,000. Townsquare Capital LLC raised its position in shares of Vulcan Materials by 53.9% during the 3rd quarter. Townsquare Capital LLC now owns 6,727 shares of the construction company's stock worth $1,685,000 after acquiring an additional 2,357 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Vulcan Materials by 32.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company's stock worth $184,353,000 after purchasing an additional 178,634 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

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Vulcan Materials Stock Performance

Shares of NYSE:VMC traded up $2.18 during trading on Wednesday, reaching $239.45. The company had a trading volume of 404,480 shares, compared to its average volume of 872,916. Vulcan Materials has a fifty-two week low of $215.08 and a fifty-two 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 fifty day moving average price is $252.42 and its 200 day moving average price is $260.78. The firm has a market capitalization of $31.67 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.41. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The company had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same period in the previous year, the company posted $1.46 EPS. As a group, equities research analysts predict 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. Investors of record on Monday, March 10th were issued a dividend of $0.49 per share. This is a boost from Vulcan Materials's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Monday, March 10th. Vulcan Materials's dividend payout ratio is currently 28.61%.

Analyst Ratings Changes

VMC has been the topic of a number of research analyst reports. Seaport Res Ptn raised shares of Vulcan Materials to a "strong-buy" rating in a report on Friday, March 21st. Citigroup cut their price target on shares of Vulcan Materials from $325.00 to $301.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Raymond James decreased their price objective on shares of Vulcan Materials from $298.00 to $295.00 and set an "outperform" rating for the company in a research note on Thursday, January 16th. Morgan Stanley lifted their target price on Vulcan Materials from $295.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus initiated coverage on Vulcan Materials in a report on Tuesday, March 4th. They issued a "buy" rating and a $287.00 target price for the company. Three equities research 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 company's stock. According to MarketBeat, Vulcan Materials has a consensus rating of "Moderate Buy" and a consensus price target of $305.58.

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.