iA Global Asset Management Inc. Buys 10,870 Shares of Vulcan Materials (NYSE:VMC)

iA Global Asset Management Inc. increased its stake in Vulcan Materials (NYSE:VMC) by 42.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,450 shares of the construction company’s stock after acquiring an additional 10,870 shares during the quarter. iA Global Asset Management Inc.’s holdings in Vulcan Materials were worth $9,376,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Vulcan Materials in the 4th quarter valued at $31,000. Generali Asset Management SPA SGR bought a new stake in Vulcan Materials during the 4th quarter valued at $32,000. UMB Bank n.a. increased its stake in Vulcan Materials by 138.5% during the 4th quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock valued at $48,000 after purchasing an additional 108 shares in the last quarter. Washington Trust Advisors Inc. increased its stake in Vulcan Materials by 30.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company’s stock valued at $54,000 after purchasing an additional 48 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Vulcan Materials during the 3rd quarter valued at $57,000. Institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of Vulcan Materials in a research note on Tuesday, March 4th. They set a “buy” rating and a $287.00 price target for the company. Citigroup cut their price objective on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley lifted their price objective on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Royal Bank of Canada lifted their price objective on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised shares of 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 report on Wednesday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.67.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $241.38 on Thursday. The company’s 50-day moving average is $257.26 and its 200 day moving average is $260.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.02 and a current ratio of 1.83. The company has a market capitalization of $31.89 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80. Vulcan Materials has a fifty-two week low of $215.08 and a fifty-two week high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.76 by $0.41. The business had revenue of $1.85 billion for 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 prior year, the firm earned $1.46 earnings per share. On average, equities research analysts forecast that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The firm 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 dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.81%. Vulcan Materials’s dividend payout ratio is 28.61%.

About Vulcan Materials

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.