Candriam Luxembourg S.C.A. boosted its stake in shares of Vulcan Materials (NYSE:VMC) by 9.1% during the third quarter, HoldingsChannel reports. The firm owned 11,182 shares of the construction company’s stock after purchasing an additional 930 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Vulcan Materials were worth $1,243,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Morgan Stanley raised its stake in Vulcan Materials by 28.1% in the second quarter. Morgan Stanley now owns 6,119,088 shares of the construction company’s stock valued at $789,730,000 after buying an additional 1,341,129 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Vulcan Materials by 19.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,499,127 shares of the construction company’s stock valued at $389,102,000 after buying an additional 562,427 shares during the last quarter. Wells Fargo & Company MN raised its stake in Vulcan Materials by 3.8% in the third quarter. Wells Fargo & Company MN now owns 2,359,404 shares of the construction company’s stock valued at $262,366,000 after buying an additional 86,964 shares during the last quarter. Northern Trust Corp raised its stake in Vulcan Materials by 6.0% in the second quarter. Northern Trust Corp now owns 1,518,794 shares of the construction company’s stock valued at $196,016,000 after buying an additional 86,373 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Vulcan Materials by 210.9% in the second quarter. Millennium Management LLC now owns 1,214,210 shares of the construction company’s stock valued at $156,706,000 after buying an additional 823,657 shares during the last quarter. 96.16% of the stock is currently owned by institutional investors.
VMC has been the subject of a number of research analyst reports. Bank of America decreased their price target on Vulcan Materials from $130.00 to $128.00 and set a “hold” rating for the company in a research note on Wednesday, August 1st. Stephens set a $125.00 price target on Vulcan Materials and gave the company a “buy” rating in a research note on Wednesday, October 17th. Nomura initiated coverage on Vulcan Materials in a research note on Monday, October 29th. They issued a “neutral” rating and a $100.00 price target for the company. Zacks Investment Research upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Finally, Royal Bank of Canada upgraded Vulcan Materials from a “sector perform” rating to an “outperform” rating and set a $97.00 price target for the company in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $121.45.
Shares of NYSE:VMC opened at $103.13 on Friday. Vulcan Materials has a 52-week low of $82.52 and a 52-week high of $141.20. The stock has a market capitalization of $13.71 billion, a PE ratio of 33.92, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.70 and a quick ratio of 1.11.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, October 30th. The construction company reported $1.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.40. Vulcan Materials had a return on equity of 10.20% and a net margin of 16.84%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the business posted $1.04 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts predict that Vulcan Materials will post 3.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Wednesday, November 21st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, November 20th. Vulcan Materials’s payout ratio is 36.84%.
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About Vulcan Materials
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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.
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