Patten Group Inc. Sells 182 Shares of Vulcan Materials (NYSE:VMC)

Patten Group Inc. cut its position in shares of Vulcan Materials (NYSE:VMC) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,733 shares of the construction company’s stock after selling 182 shares during the period. Patten Group Inc.’s holdings in Vulcan Materials were worth $2,504,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Vulcan Materials by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 862,979 shares of the construction company’s stock valued at $221,984,000 after acquiring an additional 32,509 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Vulcan Materials by 9.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,574 shares of the construction company’s stock valued at $1,691,000 after purchasing an additional 584 shares during the period. Unified Investment Management bought a new stake in shares of Vulcan Materials in the 4th quarter valued at about $575,000. SBI Securities Co. Ltd. purchased a new stake in shares of Vulcan Materials in the 4th quarter worth approximately $31,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Vulcan Materials by 42.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,599 shares of the construction company’s stock valued at $926,000 after purchasing an additional 1,081 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $239.31 on Tuesday. The firm has a market capitalization of $31.62 billion, a P/E ratio of 34.94, a PEG ratio of 2.03 and a beta of 0.84. Vulcan Materials has a 52 week low of $225.36 and a 52 week high of $298.31. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average price of $263.85 and a 200 day moving average price of $261.78.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.76 by $0.41. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same period in the previous year, the firm posted $1.46 earnings per share. Sell-side analysts expect that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.82%. The ex-dividend date is Monday, March 10th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is presently 28.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VMC shares. Royal Bank of Canada boosted their price objective on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 19th. Stephens reissued an “overweight” rating and issued a $325.00 price target on shares of Vulcan Materials in a research report on Thursday, January 2nd. Morgan Stanley raised their price objective on Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Finally, Raymond James decreased their price target on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and an average price target of $304.55.

Vulcan Materials Company 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.