Cresset Asset Management LLC Sells 5,770 Shares of Vulcan Materials (NYSE:VMC)

Cresset Asset Management LLC decreased its holdings in Vulcan Materials (NYSE:VMC - Free Report) by 65.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,013 shares of the construction company's stock after selling 5,770 shares during the period. Cresset Asset Management LLC's holdings in Vulcan Materials were worth $775,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Vulcan Materials by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 16,352,507 shares of the construction company's stock valued at $4,206,355,000 after buying an additional 90,157 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Vulcan Materials by 13.9% in the 4th quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company's stock worth $1,559,380,000 after purchasing an additional 741,631 shares in the last quarter. Geode Capital Management LLC lifted its stake in Vulcan Materials by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 3,348,418 shares of the construction company's stock worth $859,171,000 after purchasing an additional 36,833 shares in the last quarter. Norges Bank bought a new position in shares of Vulcan Materials during the 4th quarter valued at about $380,369,000. Finally, Alkeon Capital Management LLC boosted its holdings in shares of Vulcan Materials by 54.1% during the 4th quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock valued at $329,769,000 after purchasing an additional 450,000 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Up 1.0%

Shares of VMC opened at $272.22 on Tuesday. The firm has a fifty day moving average price of $242.14 and a 200-day moving average price of $260.31. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $35.96 billion, a P/E ratio of 39.74, a P/E/G ratio of 2.03 and a beta of 0.84. Vulcan Materials has a 12-month low of $215.08 and a 12-month high of $298.31.

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 net margin of 12.30% and a return on equity of 12.83%. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the previous year, the company earned $0.80 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Friday, May 23rd. Vulcan Materials's dividend payout ratio (DPR) is presently 27.80%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Raymond James lowered their target price on Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded 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 report on Wednesday, March 19th. Stephens set a $315.00 target price on shares of Vulcan Materials and gave the company an "overweight" rating in a research report on Thursday, May 1st. Morgan Stanley lifted their price target on Vulcan Materials from $273.00 to $303.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, Royal Bank of Canada boosted their price objective on Vulcan Materials from $269.00 to $286.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 19th. Four equities research 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 MarketBeat.com, Vulcan Materials has an average rating of "Moderate Buy" and a consensus price target of $297.45.

Vulcan Materials Company 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.

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