California Public Employees Retirement System Cuts Position in Vulcan Materials (NYSE:VMC)

California Public Employees Retirement System trimmed its position in Vulcan Materials (NYSE:VMC) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,998 shares of the construction company’s stock after selling 5,642 shares during the quarter. California Public Employees Retirement System owned 0.18% of Vulcan Materials worth $55,390,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VMC. JPMorgan Chase & Co. raised its holdings in shares of Vulcan Materials by 47.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock worth $909,794,000 after purchasing an additional 1,447,700 shares during the period. Wellington Management Group LLP raised its holdings in shares of Vulcan Materials by 30,160.4% in the 3rd quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company’s stock worth $109,365,000 after purchasing an additional 539,570 shares during the period. Palestra Capital Management LLC raised its holdings in shares of Vulcan Materials by 68.9% in the 3rd quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company’s stock worth $113,195,000 after purchasing an additional 228,510 shares during the period. FMR LLC raised its holdings in shares of Vulcan Materials by 6.8% in the 3rd quarter. FMR LLC now owns 3,042,842 shares of the construction company’s stock worth $614,715,000 after purchasing an additional 194,337 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new position in shares of Vulcan Materials in the 3rd quarter worth about $32,535,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VMC has been the subject of a number of recent research reports. Raymond James increased their target price on Vulcan Materials from $225.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $270.00 target price (up previously from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Morgan Stanley initiated coverage on Vulcan Materials in a research note on Monday, January 8th. They issued an “equal weight” rating and a $208.00 target price for the company. The Goldman Sachs Group increased their target price on Vulcan Materials from $264.00 to $292.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada increased their target price on Vulcan Materials from $236.00 to $269.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 20th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $273.00.

Insider Buying and Selling

In related news, insider Stanley G. Bass sold 8,310 shares of Vulcan Materials stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $251.68, for a total value of $2,091,460.80. Following the transaction, the insider now directly owns 29,311 shares in the company, valued at approximately $7,376,992.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Randy L. Pigg sold 307 shares of Vulcan Materials stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total transaction of $78,367.89. Following the transaction, the vice president now owns 1,896 shares in the company, valued at $483,991.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stanley G. Bass sold 8,310 shares of Vulcan Materials stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total value of $2,091,460.80. Following the sale, the insider now directly owns 29,311 shares of the company’s stock, valued at approximately $7,376,992.48. The disclosure for this sale can be found here. Insiders have sold 13,017 shares of company stock worth $3,344,741 in the last three months. 0.62% of the stock is currently owned by insiders.

Vulcan Materials Stock Up 0.8 %

Shares of VMC stock opened at $258.54 on Friday. Vulcan Materials has a 1 year low of $166.43 and a 1 year high of $276.58. The stock has a market cap of $34.20 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 1.86 and a beta of 0.83. The business’s fifty day moving average is $264.73 and its 200-day moving average is $234.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.39 and a current ratio of 3.17.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Friday, February 16th. The construction company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.06. Vulcan Materials had a return on equity of 12.80% and a net margin of 11.99%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities analysts expect that Vulcan Materials will post 8.43 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, March 1st. Vulcan Materials’s payout ratio is presently 26.36%.

Vulcan Materials Profile

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.