Raymond James Financial Inc. Buys New Stake in Vulcan Materials (NYSE:VMC)

Raymond James Financial Inc. purchased a new position in shares of Vulcan Materials (NYSE:VMC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 290,636 shares of the construction company's stock, valued at approximately $74,760,000. Raymond James Financial Inc. owned 0.22% of Vulcan Materials at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of VMC. Principal Financial Group Inc. boosted its stake 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 during the period. Proficio Capital Partners LLC boosted its stake 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Vulcan Materials by 32.0% during the 3rd 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 period. Artemis Investment Management LLP boosted its stake in Vulcan Materials by 67.9% during the 4th quarter. Artemis Investment Management LLP now owns 402,106 shares of the construction company's stock worth $103,434,000 after purchasing an additional 162,567 shares during the period. Finally, Stockbridge Partners LLC boosted its stake in Vulcan Materials by 9.6% during the 3rd quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company's stock worth $392,815,000 after purchasing an additional 137,365 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Stock Performance

Shares of VMC opened at $221.47 on Monday. The company has a 50-day simple moving average of $261.37 and a 200-day simple moving average of $261.43. 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 company has a market capitalization of $29.26 billion, a PE ratio of 32.33, a P/E/G ratio of 2.03 and a beta of 0.80. Vulcan Materials has a 52-week low of $218.71 and a 52-week high of $298.31.

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

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.49 per share. This is an increase from Vulcan Materials's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, March 10th. Vulcan Materials's dividend payout ratio (DPR) is 28.61%.

Analyst Upgrades and Downgrades

VMC has been the subject of a number of recent research reports. Royal Bank of Canada increased their price target on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 19th. Stifel Nicolaus initiated coverage on shares of Vulcan Materials in a research note on Tuesday, March 4th. They issued a "buy" rating and a $287.00 target price for the company. Morgan Stanley raised their target price on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. 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, Citigroup reduced their target price on shares of Vulcan Materials from $325.00 to $301.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Vulcan Materials currently has an average rating of "Moderate Buy" and a consensus price target of $303.08.

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.

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