Korea Investment CORP Has $25.40 Million Stock Position in Vulcan Materials (NYSE:VMC)

Korea Investment CORP raised its position in shares of Vulcan Materials (NYSE:VMC) by 77.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 98,750 shares of the construction company’s stock after purchasing an additional 43,004 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Vulcan Materials worth $25,401,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of 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 worth $1,332,431,000 after buying an additional 884,580 shares during the period. Proficio Capital Partners LLC grew its holdings in Vulcan Materials by 28,529.4% during the 4th quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company’s stock worth $134,694,000 after acquiring an additional 521,802 shares during the period. Raymond James Financial Inc. acquired a new stake in Vulcan Materials during the 4th quarter worth about $74,760,000. HighTower Advisors LLC raised its position in shares of Vulcan Materials by 125.0% in the 4th quarter. HighTower Advisors LLC now owns 335,984 shares of the construction company’s stock worth $86,425,000 after acquiring an additional 186,641 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Vulcan Materials by 32.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company’s stock valued at $184,353,000 after purchasing an additional 178,634 shares during the period. Institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on VMC. Stephens reissued an “overweight” rating and issued a $325.00 price target on shares of Vulcan Materials in a research note on Thursday, January 2nd. Stifel Nicolaus initiated coverage on Vulcan Materials in a research note on Tuesday, March 4th. They issued a “buy” rating and a $287.00 target price for the company. JPMorgan Chase & Co. upgraded Vulcan Materials from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $290.00 to $285.00 in a report on Wednesday, March 19th. Seaport Res Ptn upgraded Vulcan Materials to a “strong-buy” rating in a report on Friday, March 21st. Finally, Royal Bank of Canada increased their target price on Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus target price of $302.67.

Vulcan Materials Stock Down 2.0 %

VMC opened at $232.90 on Friday. Vulcan Materials has a fifty-two week low of $215.08 and a fifty-two week high of $298.31. The firm has a market capitalization of $30.77 billion, a P/E ratio of 34.00, a PEG ratio of 2.03 and a beta of 0.80. The company’s 50-day moving average is $253.92 and its 200 day moving average is $260.41. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02.

Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.41. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates 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 company posted $1.46 earnings per share. Research analysts expect that Vulcan Materials will post 8.69 earnings per share for the current fiscal 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 issued a $0.49 dividend. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Monday, March 10th. Vulcan Materials’s payout ratio is 28.61%.

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.