Baker Avenue Asset Management LP Purchases 23,386 Shares of Vulcan Materials (NYSE:VMC)

Baker Avenue Asset Management LP raised its position in Vulcan Materials (NYSE:VMC - Free Report) by 259.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,402 shares of the construction company's stock after purchasing an additional 23,386 shares during the period. Baker Avenue Asset Management LP's holdings in Vulcan Materials were worth $8,335,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company's stock worth $1,332,431,000 after buying an additional 884,580 shares during the period. Barclays PLC grew its position in shares of Vulcan Materials by 29.0% in the 3rd quarter. Barclays PLC now owns 472,194 shares of the construction company's stock valued at $118,251,000 after purchasing an additional 106,187 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Vulcan Materials during the 3rd quarter worth approximately $671,000. Franklin Resources Inc. raised its holdings in Vulcan Materials by 284.9% during the 3rd quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company's stock worth $11,104,000 after buying an additional 33,051 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Vulcan Materials by 6.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,353 shares of the construction company's stock worth $330,000 after buying an additional 86 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

Shares of VMC stock traded up $1.18 on Friday, reaching $269.60. The stock had a trading volume of 258,244 shares, compared to its average volume of 933,697. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $298.31. The firm has a market capitalization of $35.62 billion, a price-to-earnings ratio of 39.36, a P/E/G ratio of 2.03 and a beta of 0.84. The firm's 50-day moving average is $240.82 and its two-hundred day moving average is $260.02. 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 (NYSE:VMC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.20. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts expect that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The business 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. This represents a $1.96 dividend on an annualized basis and a yield of 0.73%. This is a boost from Vulcan Materials's previous quarterly dividend of $0.46. The ex-dividend date was Monday, March 10th. Vulcan Materials's payout ratio is 27.80%.

Analyst Ratings Changes

VMC has been the subject of several research reports. Loop Capital lowered their price objective on shares of Vulcan Materials from $325.00 to $320.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Seaport Res Ptn raised Vulcan Materials to a "strong-buy" rating in a research note on Friday, March 21st. UBS Group cut Vulcan Materials from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $343.00 to $258.00 in a research report on Monday, April 7th. Argus raised Vulcan Materials to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Stephens set a $315.00 price target on Vulcan Materials and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $294.73.

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.