Parametric Portfolio Associates LLC raised its holdings in Vulcan Materials (NYSE:VMC) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 227,542 shares of the construction company’s stock after buying an additional 26,581 shares during the period. Parametric Portfolio Associates LLC owned about 0.17% of Vulcan Materials worth $27,214,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Vulcan Materials by 2.7% in the second quarter. Vanguard Group Inc. now owns 13,385,889 shares of the construction company’s stock valued at $1,695,724,000 after buying an additional 346,085 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Vulcan Materials by 2.7% during the second quarter. JPMorgan Chase & Co. now owns 4,774,421 shares of the construction company’s stock valued at $604,822,000 after purchasing an additional 127,405 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Vulcan Materials by 4,985.8% during the second quarter. Janus Henderson Group PLC now owns 4,209,593 shares of the construction company’s stock valued at $533,271,000 after purchasing an additional 4,126,822 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Vulcan Materials by 17.5% during the third quarter. Wells Fargo & Company MN now owns 2,385,223 shares of the construction company’s stock valued at $285,272,000 after purchasing an additional 354,498 shares in the last quarter. Finally, Third Point LLC lifted its position in shares of Vulcan Materials by 46.9% during the third quarter. Third Point LLC now owns 2,350,000 shares of the construction company’s stock valued at $281,060,000 after purchasing an additional 750,000 shares in the last quarter. 89.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on VMC shares. Jefferies Group raised their price target on shares of Vulcan Materials from $122.00 to $128.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Citigroup reissued a “buy” rating and set a $140.00 price target (down from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Bank of America dropped their price target on shares of Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a research report on Thursday, October 19th. Zacks Investment Research upgraded shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Royal Bank of Canada restated a “buy” rating and set a $154.00 price objective on shares of Vulcan Materials in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $140.00.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, November 1st. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.36). Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business posted $1.01 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. analysts forecast that Vulcan Materials will post 3.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Wednesday, November 22nd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.80%. Vulcan Materials’s dividend payout ratio (DPR) is presently 34.13%.
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Vulcan Materials Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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