Pictet Asset Management Holding SA Reduces Stock Holdings in Vulcan Materials (NYSE:VMC)

Pictet Asset Management Holding SA cut its position in shares of Vulcan Materials (NYSE:VMC - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,355 shares of the construction company's stock after selling 3,018 shares during the quarter. Pictet Asset Management Holding SA's holdings in Vulcan Materials were worth $15,011,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of VMC. Vanguard Group Inc. lifted its stake in Vulcan Materials by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,352,507 shares of the construction company's stock valued at $4,206,355,000 after buying an additional 90,157 shares during the period. Principal Financial Group Inc. lifted its position in shares of Vulcan Materials by 13.9% during the 4th quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company's stock valued at $1,559,380,000 after acquiring an additional 741,631 shares during the period. State Street Corp lifted its position in shares of 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 during the period. Geode Capital Management LLC boosted its stake in Vulcan Materials by 1.0% during the third 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 in the last quarter. Finally, Norges Bank acquired a new stake in Vulcan Materials in the fourth quarter worth $380,369,000. Institutional investors own 90.39% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have recently issued reports on VMC. Stephens reissued an "overweight" rating and set a $325.00 price objective on shares of Vulcan Materials in a research report on Thursday, January 2nd. Citigroup reiterated a "buy" rating on shares of Vulcan Materials in a report on Monday, March 24th. Stifel Nicolaus initiated coverage on Vulcan Materials in a report on Tuesday, March 4th. They set a "buy" rating and a $287.00 price objective for the company. JPMorgan Chase & Co. upgraded Vulcan Materials from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $290.00 to $285.00 in a report on Wednesday, March 19th. Finally, Raymond James reduced their price target on shares of Vulcan Materials from $298.00 to $295.00 and set an "outperform" rating for the company in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $305.58.

Vulcan Materials Stock Performance

Shares of NYSE VMC traded down $2.41 during midday trading on Thursday, reaching $237.69. The company's stock had a trading volume of 2,269,636 shares, compared to its average volume of 880,462. The stock has a market capitalization of $31.44 billion, a P/E ratio of 34.70, a PEG ratio of 2.03 and a beta of 0.80. 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 firm has a 50 day moving average price of $251.73 and a 200-day moving average price of $260.64. Vulcan Materials has a 12-month low of $212.94 and a 12-month high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.41. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. During the same period last year, the company posted $1.46 earnings per share. As a group, equities analysts predict that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The business also recently declared 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. The ex-dividend date was Monday, March 10th. This represents a $1.96 annualized dividend and a yield of 0.82%. This is a positive change from Vulcan Materials's previous quarterly dividend of $0.46. Vulcan Materials's dividend payout ratio is presently 28.61%.

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.