JPMorgan Chase & Co. Sells 40,454 Shares of Vulcan Materials (NYSE:VMC)

JPMorgan Chase & Co. reduced its stake in Vulcan Materials (NYSE:VMC) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,597,343 shares of the construction company’s stock after selling 40,454 shares during the period. JPMorgan Chase & Co. owned 5.00% of Vulcan Materials worth $1,697,035,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after purchasing an additional 884,580 shares during the period. Proficio Capital Partners LLC increased its position in shares of Vulcan Materials by 28,529.4% in the 4th quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company’s stock valued at $134,694,000 after buying an additional 521,802 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Vulcan Materials during the 4th quarter worth $74,760,000. HighTower Advisors LLC lifted its holdings in Vulcan Materials by 125.0% during the fourth quarter. HighTower Advisors LLC now owns 335,984 shares of the construction company’s stock worth $86,425,000 after acquiring an additional 186,641 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Vulcan Materials by 32.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company’s stock valued at $184,353,000 after acquiring an additional 178,634 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

VMC opened at $238.05 on Friday. The business’s 50-day simple moving average is $254.67 and its 200 day simple moving average is $260.41. Vulcan Materials has a 52-week low of $215.08 and a 52-week high of $298.31. 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 firm has a market capitalization of $31.45 billion, a PE ratio of 34.75, a PEG ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data 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. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the business posted $1.46 EPS. As a group, sell-side 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 given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Monday, March 10th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s dividend payout ratio (DPR) is 28.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VMC shares. Stifel Nicolaus started coverage on Vulcan Materials in a research report on Tuesday, March 4th. They set a “buy” rating and a $287.00 price target on the stock. Stephens restated an “overweight” rating and set a $325.00 target price on shares of Vulcan Materials in a report on Thursday, January 2nd. Raymond James reduced their price target 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. Citigroup dropped 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. Finally, JPMorgan Chase & Co. raised shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $290.00 to $285.00 in a research note on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $302.67.

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.