Synovus Financial Corp Reduces Stock Position in Vulcan Materials (NYSE:VMC)

Synovus Financial Corp reduced its holdings in shares of Vulcan Materials (NYSE:VMC - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,115 shares of the construction company's stock after selling 3,504 shares during the quarter. Synovus Financial Corp's holdings in Vulcan Materials were worth $4,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Vulcan Materials in the fourth quarter worth approximately $380,369,000. Principal Financial Group Inc. raised 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 valued at $1,332,431,000 after buying an additional 884,580 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Vulcan Materials by 28,529.4% in the 4th quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company's stock worth $134,694,000 after buying an additional 521,802 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Vulcan Materials in the fourth quarter worth $74,760,000. Finally, HighTower Advisors LLC lifted its holdings in Vulcan Materials by 125.0% in the fourth quarter. HighTower Advisors LLC now owns 335,984 shares of the construction company's stock valued at $86,425,000 after acquiring an additional 186,641 shares during the period. 90.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada increased their price objective 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. Seaport Res Ptn upgraded shares of Vulcan Materials to a "strong-buy" rating in a research report on Friday, March 21st. UBS Group downgraded shares of Vulcan Materials from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $343.00 to $258.00 in a report on Monday, April 7th. Stephens reiterated an "overweight" rating and issued a $325.00 price target on shares of Vulcan Materials in a research note on Thursday, January 2nd. Finally, Stifel Nicolaus initiated coverage on Vulcan Materials in a research report on Tuesday, March 4th. They issued a "buy" rating and a $287.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $295.75.

Vulcan Materials Price Performance

VMC stock traded up $1.31 during trading on Friday, hitting $241.86. 643,479 shares of the company's stock traded hands, compared to its average volume of 923,152. Vulcan Materials has a 52 week low of $215.08 and a 52 week high of $298.31. The stock has a market capitalization of $31.99 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 2.03 and a beta of 0.80. The business has a fifty day simple moving average of $242.02 and a 200 day simple moving average of $259.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.02 and a current ratio of 1.83.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.41. The firm 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 earned $1.46 EPS. As a group, research analysts expect that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a $0.49 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.96 annualized dividend and a dividend yield of 0.81%. This is an increase from Vulcan Materials's previous quarterly dividend of $0.46. Vulcan Materials's dividend payout ratio is currently 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.