Vulcan Materials (NYSE:VMC) Position Cut by State of Michigan Retirement System

State of Michigan Retirement System lowered its holdings in shares of Vulcan Materials (NYSE:VMC) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,876 shares of the construction company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Vulcan Materials were worth $9,228,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC bought a new position in Vulcan Materials in the 3rd quarter valued at about $216,000. Janney Montgomery Scott LLC lifted its position in Vulcan Materials by 2.7% in the third quarter. Janney Montgomery Scott LLC now owns 53,087 shares of the construction company’s stock worth $13,295,000 after purchasing an additional 1,373 shares during the period. Principal Financial Group Inc. boosted its stake in Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after purchasing an additional 884,580 shares in the last quarter. Valley Brook Capital Group Inc. increased its position in shares of Vulcan Materials by 5.1% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 1,025 shares of the construction company’s stock valued at $257,000 after purchasing an additional 50 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Vulcan Materials in the 3rd quarter worth $42,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $240.49 on Thursday. 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 has a one year low of $225.36 and a one year high of $298.31. The business’s 50-day moving average price is $262.78 and its two-hundred day moving average price is $261.57. The company has a market capitalization of $31.77 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last announced 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 business 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 quarter in the previous year, the business posted $1.46 EPS. Analysts anticipate that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Monday, March 10th. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is presently 28.61%.

Analysts Set New Price Targets

Several brokerages recently weighed in on VMC. Morgan Stanley raised their target price on Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their price objective on shares of Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Stifel Nicolaus assumed coverage on shares of Vulcan Materials in a research note on Tuesday. They set a “buy” rating and a $287.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $325.00 price target on shares of Vulcan Materials in a report on Thursday, January 2nd. Finally, Citigroup decreased their target price on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $303.08.

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.