Allstate Corp Invests $993,000 in Vulcan Materials (NYSE:VMC)

Allstate Corp acquired a new stake in shares of Vulcan Materials (NYSE:VMC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,861 shares of the construction company’s stock, valued at approximately $993,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Vulcan Materials by 19.9% during 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. Townsquare Capital LLC raised its position in Vulcan Materials by 53.9% during the 3rd quarter. Townsquare Capital LLC now owns 6,727 shares of the construction company’s stock worth $1,685,000 after buying an additional 2,357 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Vulcan Materials by 13.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,766 shares of the construction company’s stock worth $1,444,000 after acquiring an additional 700 shares during the period. Captrust Financial Advisors lifted its stake in shares of Vulcan Materials by 5.5% in the 3rd quarter. Captrust Financial Advisors now owns 21,277 shares of the construction company’s stock worth $5,328,000 after acquiring an additional 1,104 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in shares of Vulcan Materials in the third quarter valued at about $57,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup reduced their price objective on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Raymond James reduced their price target on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. raised Vulcan Materials from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $290.00 to $285.00 in a report on Wednesday, March 19th. Seaport Res Ptn raised Vulcan Materials to a “strong-buy” rating in a report on Friday, March 21st. Finally, Royal Bank of Canada upped their price target on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and an average target price of $302.67.

Vulcan Materials Trading Up 0.4 %

Shares of VMC opened at $233.82 on Tuesday. Vulcan Materials has a 1-year low of $215.08 and a 1-year high of $298.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. The firm has a 50 day simple moving average of $253.19 and a 200-day simple moving average of $260.78. The stock has a market cap of $30.93 billion, a price-to-earnings ratio of 34.13, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results 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. 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 during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. Equities analysts forecast that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

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

Vulcan Materials 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.