State Farm Mutual Automobile Insurance Co. Cuts Holdings in Vulcan Materials (NYSE:VMC)

State Farm Mutual Automobile Insurance Co. reduced its position in shares of Vulcan Materials (NYSE:VMC - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,647,060 shares of the construction company's stock after selling 19,625 shares during the period. Vulcan Materials accounts for about 2.3% of State Farm Mutual Automobile Insurance Co.'s portfolio, making the stock its 15th largest holding. State Farm Mutual Automobile Insurance Co. owned 7.31% of Vulcan Materials worth $2,481,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Vulcan Materials by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 16,352,507 shares of the construction company's stock worth $4,206,355,000 after buying an additional 90,157 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Vulcan Materials by 13.9% during the 4th quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company's stock valued at $1,559,380,000 after acquiring an additional 741,631 shares during the last quarter. State Street Corp grew its holdings in shares of Vulcan Materials by 1.2% in the third quarter. State Street Corp now owns 5,281,102 shares of the construction company's stock valued at $1,322,546,000 after purchasing an additional 65,163 shares during the period. Geode Capital Management LLC raised its stake in Vulcan Materials by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company's stock worth $826,644,000 after purchasing an additional 33,061 shares during the period. Finally, Stockbridge Partners LLC boosted its holdings in Vulcan Materials by 9.6% in the 3rd quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company's stock valued at $392,815,000 after purchasing an additional 137,365 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have recently commented on VMC shares. Stifel Nicolaus began coverage on shares of Vulcan Materials in a research report on Tuesday, March 4th. They set a "buy" rating and a $287.00 price target on the stock. Stephens reissued an "overweight" rating and set a $325.00 price objective on shares of Vulcan Materials in a research report on Thursday, January 2nd. JPMorgan Chase & Co. raised shares of Vulcan Materials from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $290.00 to $285.00 in a research report on Wednesday, March 19th. Royal Bank of Canada upped their price objective on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 19th. Finally, Citigroup dropped their target price on shares of Vulcan Materials from $325.00 to $301.00 and set a "buy" rating for the company in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $302.67.

Vulcan Materials Stock Up 0.4 %

Shares of NYSE:VMC traded up $0.88 during trading hours on Monday, reaching $233.82. The stock had a trading volume of 1,488,582 shares, compared to its average volume of 873,434. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 34.13, a P/E/G ratio of 2.03 and a beta of 0.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.02 and a current ratio of 1.83. The firm's 50 day moving average is $253.92 and its 200-day moving average is $260.80. Vulcan Materials has a 1 year low of $215.08 and a 1 year high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its 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 firm had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.81 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. During the same period in the prior year, the firm earned $1.46 EPS. Research analysts predict that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.49 per share. The ex-dividend date was Monday, March 10th. 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 0.84%. Vulcan Materials's dividend payout ratio is currently 28.61%.

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.