Vulcan Materials (NYSE:VMC) Stock Position Lessened by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of Vulcan Materials (NYSE:VMC) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 210,987 shares of the construction company’s stock after selling 8,702 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Vulcan Materials worth $54,272,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Vulcan Materials during the 3rd quarter worth about $811,000. DAVENPORT & Co LLC increased its stake in shares of Vulcan Materials by 149.4% during the fourth quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock valued at $2,416,000 after acquiring an additional 5,627 shares during the period. Smith Group Asset Management LLC bought a new stake in Vulcan Materials during the fourth quarter worth approximately $514,000. Campbell Newman Asset Management Inc. acquired a new stake in Vulcan Materials in the fourth quarter worth approximately $15,719,000. Finally, Franklin Resources Inc. lifted its position in Vulcan Materials by 284.9% in the third quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company’s stock worth $11,104,000 after purchasing an additional 33,051 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

VMC has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Seaport Res Ptn upgraded shares of Vulcan Materials to a “strong-buy” rating in a research report on Friday, March 21st. Stifel Nicolaus started coverage on shares of Vulcan Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $287.00 price target for the company. 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 research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and cut their target price for the company from $290.00 to $285.00 in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $305.58.

Vulcan Materials Stock Up 1.7 %

VMC stock opened at $237.26 on Wednesday. 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 market capitalization of $31.38 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.03 and a beta of 0.80. Vulcan Materials has a 52-week low of $215.08 and a 52-week high of $298.31. The company’s 50 day simple moving average is $252.42 and its 200-day simple moving average is $260.78.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.41. The company 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 previous year, the business earned $1.46 EPS. As a group, equities research analysts anticipate that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.49 per share. The ex-dividend date 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 yield of 0.83%. Vulcan Materials’s dividend payout ratio (DPR) is presently 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.