Geode Capital Management LLC Increases Stake in Vulcan Materials (NYSE:VMC)

Geode Capital Management LLC increased its holdings in Vulcan Materials (NYSE:VMC) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,348,418 shares of the construction company’s stock after acquiring an additional 36,833 shares during the quarter. Geode Capital Management LLC owned approximately 2.54% of Vulcan Materials worth $859,171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Vulcan Materials by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after purchasing an additional 884,580 shares during the period. Public Sector Pension Investment Board raised its stake in Vulcan Materials by 13.8% in the third quarter. Public Sector Pension Investment Board now owns 5,766 shares of the construction company’s stock worth $1,444,000 after buying an additional 700 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Vulcan Materials by 5.5% during the third quarter. Captrust Financial Advisors now owns 21,277 shares of the construction company’s stock worth $5,328,000 after buying an additional 1,104 shares during the period. Benjamin Edwards Inc. bought a new stake in Vulcan Materials during the 3rd quarter valued at $1,952,000. Finally, Centiva Capital LP increased its holdings in shares of Vulcan Materials by 34.2% in the 3rd quarter. Centiva Capital LP now owns 4,025 shares of the construction company’s stock valued at $1,008,000 after acquiring an additional 1,025 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $240.16 on Thursday. The company has a 50 day simple moving average of $251.73 and a two-hundred day simple moving average of $260.64. The stock has a market cap of $31.77 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 2.03 and a beta of 0.80. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.76 by $0.41. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same period in the prior year, the company earned $1.46 earnings per share. As a group, analysts predict that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.49 per share. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.82%. The ex-dividend date was Monday, March 10th. Vulcan Materials’s dividend payout ratio (DPR) is currently 28.61%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VMC. JPMorgan Chase & Co. raised shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $290.00 to $285.00 in a research report on Wednesday, March 19th. Raymond James cut their price target on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. Citigroup decreased their price objective on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a report on Monday, January 6th. Loop Capital lowered their price objective on Vulcan Materials from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Stephens reaffirmed an “overweight” rating and set a $325.00 target price on shares of Vulcan Materials in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $305.58.

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.