PNC Financial Services Group Inc. Lowers Stock Position in Vulcan Materials (NYSE:VMC)

PNC Financial Services Group Inc. lessened its stake in Vulcan Materials (NYSE:VMC) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,703 shares of the construction company’s stock after selling 2,834 shares during the period. PNC Financial Services Group Inc.’s holdings in Vulcan Materials were worth $12,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new stake in shares of Vulcan Materials during the 3rd quarter worth $30,000. SBI Securities Co. Ltd. purchased a new stake in Vulcan Materials during the fourth quarter valued at about $31,000. UMB Bank n.a. lifted its stake in Vulcan Materials by 138.5% during the fourth quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock worth $48,000 after purchasing an additional 108 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Vulcan Materials by 30.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company’s stock worth $54,000 after purchasing an additional 48 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Vulcan Materials during the 3rd quarter valued at about $57,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Up 1.8 %

NYSE VMC opened at $225.22 on Wednesday. The business’s 50-day moving average is $260.00 and its 200 day moving average is $261.04. The stock has a market capitalization of $29.75 billion, a PE ratio of 32.88, a PEG ratio of 2.03 and a beta of 0.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. Vulcan Materials has a 1 year low of $215.08 and a 1 year high of $298.31.

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

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.49 dividend. The ex-dividend date is Monday, March 10th. 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 0.87%. Vulcan Materials’s dividend payout ratio is 28.61%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on VMC shares. Stifel Nicolaus assumed coverage on Vulcan Materials in a research report on Tuesday, March 4th. They issued a “buy” rating and a $287.00 target price for the company. Raymond James lowered their price objective on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday, January 16th. Stephens reaffirmed an “overweight” rating and set a $325.00 target price on shares of Vulcan Materials in a report on Thursday, January 2nd. Morgan Stanley boosted their price target on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Finally, Citigroup reduced their price objective on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.08.

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.