Advisors Asset Management Inc. Raises Stock Holdings in Vulcan Materials Company $VMC

Key Points

• Advisors Asset Management Inc. increased its holdings in Vulcan Materials Company by 6.5%, bringing its total shares owned to 36,081, valued at approximately $8.42 million.
• Several hedge funds also expanded their stakes in Vulcan Materials, with Principal Financial Group Inc. increasing its total to over 6.5 million shares valued at $1.52 billion.
• Vulcan Materials recently declared a quarterly dividend of $0.49 per share, representing a 0.7% dividend yield, with a payout ratio of 27.37%.

Advisors Asset Management Inc. increased its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,081 shares of the construction company's stock after buying an additional 2,199 shares during the quarter. Advisors Asset Management Inc.'s holdings in Vulcan Materials were worth $8,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in VMC. Principal Financial Group Inc. increased its stake in shares of Vulcan Materials by 7.4% in the first quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock worth $1,518,291,000 after buying an additional 445,691 shares during the period. GAMMA Investing LLC increased its stake in shares of Vulcan Materials by 29,580.1% in the first quarter. GAMMA Investing LLC now owns 398,010 shares of the construction company's stock worth $92,856,000 after buying an additional 396,669 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Vulcan Materials by 5.6% during the first quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company's stock valued at $1,625,583,000 after acquiring an additional 370,434 shares in the last quarter. Nuveen LLC bought a new position in shares of Vulcan Materials during the first quarter valued at approximately $82,659,000. Finally, Vanguard Group Inc. raised its holdings in shares of Vulcan Materials by 2.1% during the first quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company's stock valued at $3,896,031,000 after acquiring an additional 347,155 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $287.75 on Thursday. Vulcan Materials Company 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 0.52, a current ratio of 1.67 and a quick ratio of 1.13. The business has a fifty day moving average price of $277.46 and a 200-day moving average price of $260.31. The company has a market capitalization of $38.02 billion, a PE ratio of 40.19, a PEG ratio of 2.38 and a beta of 0.86.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business earned $2.35 earnings per share. Vulcan Materials's revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts expect that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is presently 27.37%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays upped their target price on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Citigroup restated a "buy" rating and set a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. UBS Group upgraded Vulcan Materials from a "neutral" rating to a "buy" rating and upped their target price for the company from $280.00 to $318.00 in a report on Friday, May 16th. JPMorgan Chase & Co. upped their target price on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada decreased their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $308.36.

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.

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