Oppenheimer Asset Management Inc. Buys 8,332 Shares of Vulcan Materials (NYSE:VMC)

Oppenheimer Asset Management Inc. grew its position in Vulcan Materials (NYSE:VMC) by 145.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,054 shares of the construction company’s stock after purchasing an additional 8,332 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Vulcan Materials were worth $3,615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of VMC. Principal Financial Group Inc. raised its holdings 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 acquiring an additional 741,631 shares during the period. State Street Corp increased its stake in shares of Vulcan Materials by 1.2% in the third quarter. State Street Corp now owns 5,281,102 shares of the construction company’s stock worth $1,322,546,000 after purchasing an additional 65,163 shares during the period. FMR LLC increased its stake in shares of Vulcan Materials by 2.2% in the third quarter. FMR LLC now owns 3,660,931 shares of the construction company’s stock worth $916,807,000 after purchasing an additional 78,271 shares during the period. Geode Capital Management LLC lifted its position in shares of Vulcan Materials by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company’s stock worth $826,644,000 after purchasing an additional 33,061 shares during the last quarter. Finally, Stockbridge Partners LLC boosted its stake in Vulcan Materials by 9.6% during the 3rd quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company’s stock valued at $392,815,000 after purchasing an additional 137,365 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VMC shares. JPMorgan Chase & Co. lifted their price target on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Royal Bank of Canada upped their target price on shares of Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 19th. UBS Group started coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target on the stock. Raymond James dropped their price objective on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. Finally, Citigroup reduced their target price on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.55.

Vulcan Materials Stock Performance

NYSE:VMC opened at $247.55 on Friday. The firm has a market capitalization of $32.70 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 12-month low of $225.36 and a 12-month high of $298.31. The firm has a 50-day moving average price of $264.32 and a 200 day moving average price of $261.70.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.41. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $1.46 EPS. Research analysts anticipate that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 0.79%. 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 currently 28.61%.

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.