Resona Asset Management Co. Ltd. Purchases New Position in Vulcan Materials (NYSE:VMC)

Resona Asset Management Co. Ltd. acquired a new position in shares of Vulcan Materials (NYSE:VMC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,052 shares of the construction company's stock, valued at approximately $9,816,000.

Several other hedge funds also recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its position in Vulcan Materials by 16.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 254 shares of the construction company's stock valued at $65,000 after purchasing an additional 36 shares during the last quarter. Howard Capital Management Inc. raised its stake in shares of Vulcan Materials by 5.2% during the 4th quarter. Howard Capital Management Inc. now owns 906 shares of the construction company's stock worth $233,000 after purchasing an additional 45 shares in the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Vulcan Materials by 30.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company's stock valued at $54,000 after buying an additional 48 shares during the last quarter. Sound View Wealth Advisors Group LLC grew its stake in shares of Vulcan Materials by 4.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,169 shares of the construction company's stock valued at $301,000 after buying an additional 48 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Vulcan Materials by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock worth $249,000 after buying an additional 51 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

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Vulcan Materials Stock Performance

Vulcan Materials stock traded down $0.59 during midday trading on Friday, hitting $234.99. The company's stock had a trading volume of 496,637 shares, compared to its average volume of 915,100. 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 company has a market cap of $31.08 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 2.03 and a beta of 0.80. Vulcan Materials has a 1-year low of $215.08 and a 1-year high of $298.31. The company has a 50-day moving average price of $245.03 and a two-hundred day moving average price of $259.68.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business posted $1.46 EPS. As a group, sell-side analysts predict that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The firm 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 of this dividend was Monday, March 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.83%. This is a boost from Vulcan Materials's previous quarterly dividend of $0.46. Vulcan Materials's payout ratio is 28.61%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VMC. Morgan Stanley boosted their price objective 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. Stifel Nicolaus assumed coverage on Vulcan Materials in a report on Tuesday, March 4th. They set a "buy" rating and a $287.00 price target for the company. JPMorgan Chase & Co. upgraded Vulcan Materials from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $290.00 to $285.00 in a research note on Wednesday, March 19th. Stephens reiterated an "overweight" rating and set a $325.00 target price on shares of Vulcan Materials in a research note on Thursday, January 2nd. Finally, Seaport Res Ptn upgraded Vulcan Materials to a "strong-buy" rating in a research note on Friday, March 21st. Four research 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 company's stock. According to data from MarketBeat.com, Vulcan Materials presently has an average rating of "Moderate Buy" and a consensus target price of $298.00.

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.