Baird Financial Group Inc. Lowers Position in Vulcan Materials Company $VMC

Key Points

• Baird Financial Group Inc. has reduced its stake in Vulcan Materials Company by 10.7%, owning 10,217 shares valued at approximately $2.38 million after selling 1,225 shares in Q1.
• Multiple institutional investors, including Manchester Capital Management and Wellington Management Group, have increased their holdings in Vulcan Materials, indicating a trend among hedge funds favoring the stock.
• Analysts have set varying target prices for VMC, with JPMorgan Chase raising their target from $285 to $330, reflecting overall positive sentiment toward the stock, which holds an average rating of "Buy."

Baird Financial Group Inc. cut its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 10.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,217 shares of the construction company's stock after selling 1,225 shares during the quarter. Baird Financial Group Inc.'s holdings in Vulcan Materials were worth $2,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC boosted its holdings in Vulcan Materials by 26.9% during the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after acquiring an additional 39 shares during the period. Alpha Omega Wealth Management LLC boosted its holdings in Vulcan Materials by 1.1% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 4,336 shares of the construction company's stock valued at $1,012,000 after acquiring an additional 46 shares during the period. Wellington Management Group LLP boosted its holdings in Vulcan Materials by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock valued at $249,000 after acquiring an additional 51 shares during the period. Marks Group Wealth Management Inc boosted its holdings in Vulcan Materials by 2.7% during the 1st quarter. Marks Group Wealth Management Inc now owns 2,203 shares of the construction company's stock valued at $514,000 after acquiring an additional 57 shares during the period. Finally, Allworth Financial LP boosted its holdings in Vulcan Materials by 10.0% during the 1st quarter. Allworth Financial LP now owns 651 shares of the construction company's stock valued at $163,000 after acquiring an additional 59 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on VMC. JPMorgan Chase & Co. raised 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. Citigroup restated a "buy" rating and set a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Royal Bank Of Canada decreased their price objective on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Morgan Stanley decreased their price objective on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research note on Monday, July 28th. Finally, Barclays lifted their price objective on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $308.36.

Vulcan Materials Stock Performance

Shares of VMC opened at $294.64 on Friday. The stock has a 50-day simple moving average of $278.81 and a 200-day simple moving average of $260.58. The stock has a market capitalization of $38.93 billion, a PE ratio of 41.15, a PEG ratio of 2.41 and a beta of 0.86. 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 quick ratio of 1.13 and a current ratio of 1.67.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its 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). The business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.Vulcan Materials's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 EPS. On average, analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

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

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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