Vulcan Materials (NYSE:VMC) Position Reduced by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its position in shares of Vulcan Materials (NYSE:VMC) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,882 shares of the construction company’s stock after selling 1,610 shares during the quarter. Advisors Asset Management Inc.’s holdings in Vulcan Materials were worth $8,715,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VMC. Virtu Financial LLC bought a new position in Vulcan Materials during the third quarter valued at about $811,000. DAVENPORT & Co LLC lifted its holdings in Vulcan Materials by 149.4% in the 4th quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock valued at $2,416,000 after acquiring an additional 5,627 shares during the last quarter. Smith Group Asset Management LLC bought a new position in shares of Vulcan Materials during the 4th quarter valued at about $514,000. Campbell Newman Asset Management Inc. acquired a new position in shares of Vulcan Materials in the 4th quarter worth approximately $15,719,000. Finally, Franklin Resources Inc. raised its holdings in shares of Vulcan Materials by 284.9% in the 3rd quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company’s stock worth $11,104,000 after purchasing an additional 33,051 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on VMC shares. Stifel Nicolaus initiated coverage on shares of Vulcan Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $287.00 target price for the company. Morgan Stanley raised their price objective on Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. 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. Citigroup decreased their price target on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Raymond James cut their price objective on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus target price of $303.08.

Vulcan Materials Stock Performance

VMC stock opened at $236.36 on Wednesday. The firm has a 50 day simple moving average of $257.53 and a 200 day simple moving average of $260.63. Vulcan Materials has a 52 week low of $215.08 and a 52 week high of $298.31. The stock has a market cap of $31.23 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.03 and a beta of 0.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.02 and a current ratio of 1.83.

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

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a $0.49 dividend. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Monday, March 10th. Vulcan Materials’s dividend payout ratio is presently 28.61%.

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.