1,478,711 Shares in Vulcan Materials (NYSE:VMC) Bought by Norges Bank

Norges Bank purchased a new position in Vulcan Materials (NYSE:VMC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,478,711 shares of the construction company’s stock, valued at approximately $380,369,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Vulcan Materials by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,352,507 shares of the construction company’s stock valued at $4,206,355,000 after acquiring an additional 90,157 shares during the last quarter. Principal Financial Group Inc. increased its stake in Vulcan Materials by 13.9% in the 4th quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company’s stock worth $1,559,380,000 after purchasing an additional 741,631 shares during the period. State Street Corp boosted its stake in shares of Vulcan Materials by 1.2% during the third quarter. State Street Corp now owns 5,281,102 shares of the construction company’s stock valued at $1,322,546,000 after purchasing an additional 65,163 shares during the period. Geode Capital Management LLC boosted its stake in shares of Vulcan Materials by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company’s stock valued at $826,644,000 after purchasing an additional 33,061 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Vulcan Materials by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 877,701 shares of the construction company’s stock worth $225,771,000 after buying an additional 13,227 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Stock Down 2.0 %

Shares of VMC stock opened at $232.90 on Friday. The stock’s fifty day moving average price is $253.92 and its 200 day moving average price is $260.61. Vulcan Materials has a 1-year low of $215.08 and a 1-year high of $298.31. The company has a market cap of $30.81 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth 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 (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. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. On average, research analysts expect that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.49 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.84%. Vulcan Materials’s dividend payout ratio is currently 28.61%.

Analyst Ratings Changes

A number of brokerages have issued reports on VMC. Stephens reissued an “overweight” rating and issued a $325.00 price target on shares of Vulcan Materials in a report on Thursday, January 2nd. Citigroup reduced their price target on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Seaport Res Ptn raised Vulcan Materials to a “strong-buy” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. upgraded Vulcan Materials from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $290.00 to $285.00 in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada upped their target price on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and an average target price of $302.67.

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.