CIBC Asset Management Inc reduced its holdings in Vulcan Materials (NYSE:VMC) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,390 shares of the construction company’s stock after selling 514 shares during the quarter. CIBC Asset Management Inc’s holdings in Vulcan Materials were worth $1,719,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of VMC. Third Point LLC increased its holdings in Vulcan Materials by 46.9% in the third quarter. Third Point LLC now owns 2,350,000 shares of the construction company’s stock worth $281,060,000 after purchasing an additional 750,000 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Vulcan Materials by 116.5% in the third quarter. Point72 Asset Management L.P. now owns 1,038,752 shares of the construction company’s stock worth $124,235,000 after purchasing an additional 558,900 shares in the last quarter. CI Investments Inc. bought a new stake in Vulcan Materials in the third quarter worth approximately $55,271,000. Principal Financial Group Inc. increased its holdings in Vulcan Materials by 71.2% in the third quarter. Principal Financial Group Inc. now owns 949,062 shares of the construction company’s stock worth $113,508,000 after purchasing an additional 394,854 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Vulcan Materials by 17.5% in the third quarter. Wells Fargo & Company MN now owns 2,385,223 shares of the construction company’s stock worth $285,272,000 after purchasing an additional 354,498 shares in the last quarter. Institutional investors and hedge funds own 89.48% of the company’s stock.
A number of equities research analysts have weighed in on the company. Barclays assumed coverage on Vulcan Materials in a report on Tuesday, December 12th. They issued an “overweight” rating and a $135.00 target price for the company. Zacks Investment Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 12th. Jefferies Group reiterated a “hold” rating and issued a $135.00 target price on shares of Vulcan Materials in a report on Wednesday, January 17th. Bank of America lifted their target price on Vulcan Materials from $129.00 to $139.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Finally, Citigroup lifted their target price on Vulcan Materials from $144.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Vulcan Materials currently has an average rating of “Buy” and an average target price of $146.13.
Shares of Vulcan Materials (NYSE VMC) opened at $125.00 on Friday. The company has a market capitalization of $17,010.00, a P/E ratio of 42.66, a PEG ratio of 1.78 and a beta of 0.84. Vulcan Materials has a 1-year low of $108.95 and a 1-year high of $141.20. The company has a current ratio of 4.22, a quick ratio of 3.34 and a debt-to-equity ratio of 0.60.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.28 per share. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 0.90%. Vulcan Materials’s payout ratio is currently 34.13%.
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Vulcan Materials Company 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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