The Manufacturers Life Insurance Company Has $19.89 Million Stake in Vulcan Materials (NYSE:VMC)

The Manufacturers Life Insurance Company decreased its stake in Vulcan Materials (NYSE:VMC - Free Report) by 74.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,431 shares of the construction company's stock after selling 237,124 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Vulcan Materials worth $19,892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in Vulcan Materials by 19.9% in 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 buying an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position 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 valued at $533,551,000 after purchasing an additional 330,433 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in 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 purchasing an additional 91,318 shares during the period. Dimensional Fund Advisors LP grew its position in Vulcan Materials by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company's stock worth $331,404,000 after purchasing an additional 43,294 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Vulcan Materials by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 830,470 shares of the construction company's stock valued at $207,975,000 after purchasing an additional 11,125 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Stock Performance

Vulcan Materials stock traded up $1.74 on Friday, reaching $288.13. 355,153 shares of the stock were exchanged, compared to its average volume of 806,363. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. Vulcan Materials has a twelve month low of $209.60 and a twelve month high of $298.31. The firm has a fifty day moving average price of $265.28 and a two-hundred day moving average price of $255.16. The stock has a market cap of $38.05 billion, a PE ratio of 45.45, a PEG ratio of 2.79 and a beta of 0.81.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the business earned $2.29 EPS. The business's quarterly revenue was down 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Vulcan Materials will post 7.16 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 4th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Monday, November 4th. Vulcan Materials's dividend payout ratio (DPR) is currently 29.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on VMC shares. UBS Group assumed coverage on Vulcan Materials in a report on Thursday, November 7th. They issued a "buy" rating and a $349.00 price objective for the company. Royal Bank of Canada lowered 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. Barclays upped their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. Stephens decreased their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on Vulcan Materials from $245.00 to $290.00 and gave the stock a "neutral" rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $283.92.

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.