Marshall Wace North America L.P. boosted its holdings in Vulcan Materials (NYSE:VMC) by 110.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,030,674 shares of the construction company’s stock after acquiring an additional 541,504 shares during the period. Marshall Wace North America L.P.’s holdings in Vulcan Materials were worth $114,611,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of the business. Marshall Wace LLP acquired a new stake in Vulcan Materials in the 3rd quarter worth about $649,000. Diversified Trust Co raised its position in shares of Vulcan Materials by 38.2% in the 3rd quarter. Diversified Trust Co now owns 22,815 shares of the construction company’s stock valued at $2,537,000 after buying an additional 6,307 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Vulcan Materials by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,964,379 shares of the construction company’s stock valued at $1,552,839,000 after buying an additional 46,860 shares in the last quarter. Morgan Stanley raised its position in shares of Vulcan Materials by 5.0% in the 3rd quarter. Morgan Stanley now owns 6,423,074 shares of the construction company’s stock valued at $714,246,000 after buying an additional 303,986 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Vulcan Materials by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 591,166 shares of the construction company’s stock valued at $65,738,000 after buying an additional 13,138 shares in the last quarter. Institutional investors and hedge funds own 96.84% of the company’s stock.
Several equities analysts have recently commented on the stock. Barclays restated a “buy” rating and issued a $132.00 target price on shares of Vulcan Materials in a research report on Thursday, October 18th. Argus dropped their target price on shares of Vulcan Materials to $122.00 and set a “buy” rating for the company in a research report on Monday, August 20th. ValuEngine cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Zacks Investment Research cut shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, October 12th. Finally, Nomura upgraded shares of Vulcan Materials from a “neutral” rating to a “buy” rating and boosted their target price for the company from $100.00 to $140.00 in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $125.09.
Shares of NYSE:VMC traded up $2.83 during midday trading on Thursday, hitting $103.39. The stock had a trading volume of 1,607,363 shares, compared to its average volume of 1,406,483. The stock has a market capitalization of $13.28 billion, a PE ratio of 34.01, a PEG ratio of 1.02 and a beta of 0.98. The company has a current ratio of 1.70, a quick ratio of 1.11 and a debt-to-equity ratio of 0.54. Vulcan Materials has a fifty-two week low of $82.52 and a fifty-two week high of $141.20.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, October 30th. The construction company reported $1.40 EPS for the quarter, meeting the consensus estimate of $1.40. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Vulcan Materials had a net margin of 16.84% and a return on equity of 10.20%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 EPS. On average, research analysts predict that Vulcan Materials will post 3.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Wednesday, November 21st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Tuesday, November 20th. Vulcan Materials’s dividend payout ratio is 36.84%.
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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