Tower Bridge Advisors Raises Holdings in Vulcan Materials (NYSE:VMC)

Tower Bridge Advisors lifted its stake in shares of Vulcan Materials (NYSE:VMC - Free Report) by 64.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,936 shares of the construction company's stock after purchasing an additional 1,936 shares during the period. Tower Bridge Advisors' holdings in Vulcan Materials were worth $1,236,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Vulcan Materials by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company's stock valued at $4,368,273,000 after acquiring an additional 755,991 shares in the last quarter. Principal Financial Group Inc. lifted its position in Vulcan Materials by 19.9% during the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company's stock valued at $1,332,431,000 after purchasing an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Vulcan Materials by 18.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company's stock worth $533,551,000 after buying an additional 330,433 shares in the last quarter. Capital World Investors bought a new position in shares of Vulcan Materials in the 1st quarter worth $388,027,000. Finally, Vontobel Holding Ltd. raised its position in shares of Vulcan Materials by 7.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company's stock valued at $342,971,000 after buying an additional 91,318 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VMC. Stephens cut their target price on Vulcan Materials from $300.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. UBS Group began coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They set a "buy" rating and a $349.00 target price on the stock. Royal Bank of Canada decreased their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Vulcan Materials from $250.00 to $245.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Finally, Barclays boosted their target price on Vulcan Materials from $250.00 to $285.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $280.46.

Vulcan Materials Stock Down 1.2 %

Shares of VMC traded down $3.40 on Friday, reaching $279.28. The stock had a trading volume of 669,613 shares, compared to its average volume of 1,057,878. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. Vulcan Materials has a 12-month low of $209.39 and a 12-month high of $298.31. The firm has a market capitalization of $36.88 billion, a price-to-earnings ratio of 44.05, a price-to-earnings-growth ratio of 2.68 and a beta of 0.81. The company has a 50-day simple moving average of $256.67 and a 200-day simple moving average of $254.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts' consensus estimates of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The business had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter last year, the company posted $2.29 EPS. Vulcan Materials's revenue for the quarter was down 8.3% compared to the same quarter last year. Sell-side analysts predict that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be paid a $0.46 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.66%. Vulcan Materials's dividend payout ratio is currently 29.02%.

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.