Skye Global Management LP Boosts Stock Position in Vulcan Materials (NYSE:VMC)

Skye Global Management LP lifted its stake in Vulcan Materials (NYSE:VMC - Free Report) by 105.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 156,000 shares of the construction company's stock after purchasing an additional 80,000 shares during the quarter. Vulcan Materials comprises 0.9% of Skye Global Management LP's portfolio, making the stock its 16th biggest holding. Skye Global Management LP owned about 0.12% of Vulcan Materials worth $39,067,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Advisors LLC lifted its stake in shares of Vulcan Materials by 118.1% during the 1st quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company's stock worth $1,132,000 after acquiring an additional 2,245 shares during the last quarter. Mather Group LLC. raised its position in Vulcan Materials by 16.1% during the 2nd quarter. Mather Group LLC. now owns 491 shares of the construction company's stock valued at $134,000 after purchasing an additional 68 shares in the last quarter. Raymond James & Associates raised its position in Vulcan Materials by 3.0% during the 2nd quarter. Raymond James & Associates now owns 202,539 shares of the construction company's stock valued at $50,367,000 after purchasing an additional 5,979 shares in the last quarter. Tidal Investments LLC raised its position in Vulcan Materials by 87.1% during the 1st quarter. Tidal Investments LLC now owns 9,591 shares of the construction company's stock valued at $2,618,000 after purchasing an additional 4,466 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Vulcan Materials by 62.1% during the 1st quarter. Janus Henderson Group PLC now owns 30,226 shares of the construction company's stock valued at $8,247,000 after purchasing an additional 11,583 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Up 0.6 %

VMC stock traded up $1.74 on Friday, hitting $288.13. 355,153 shares of the company's stock were exchanged, compared to its average volume of 835,290. Vulcan Materials has a 12-month low of $209.60 and a 12-month high of $298.31. The firm has a 50 day moving average price of $264.56 and a two-hundred day moving average price of $255.23. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The stock has a market cap of $38.05 billion, a P/E ratio of 45.17, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The firm's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. As a group, equities research analysts expect that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.64%. Vulcan Materials's payout ratio is presently 29.02%.

Analysts Set New Price Targets

A number of brokerages have weighed in on VMC. JPMorgan Chase & Co. lifted their target price on Vulcan Materials from $245.00 to $290.00 and gave the company a "neutral" rating in a research report on Wednesday. StockNews.com upgraded Vulcan Materials from a "sell" rating to a "hold" rating in a report on Friday, November 1st. UBS Group assumed coverage on Vulcan Materials in a report on Thursday, November 7th. They issued a "buy" rating and a $349.00 price target on the stock. Citigroup cut their price target on Vulcan Materials from $297.00 to $292.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, Royal Bank of Canada cut their price target on Vulcan Materials from $267.00 to $257.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of "Moderate Buy" and an average target price of $283.92.

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.