Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in Vulcan Materials Company $VMC

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Vulcan Materials by 4.0% to 274,848 shares (about 0.21% of the company) valued at roughly $80.43 million, and institutional investors collectively own 90.39% of VMC.
• Vulcan beat quarterly estimates with $1.35 EPS vs. $1.10 expected and $1.76 billion in revenue vs. $1.64 billion, while analysts raised price targets (e.g., Barclays to $340, Truist to $360) and the consensus rating is a "Moderate Buy" with an average target of $329.62.
• Dividend raised to $0.52 per quarter (annualized $2.08) from $0.49, yielding about 0.7% with a payout ratio of 24.73%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 274,848 shares of the construction company's stock after buying an additional 10,577 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Vulcan Materials worth $80,434,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of VMC. Composition Wealth LLC grew its position in Vulcan Materials by 3.5% during the 4th quarter. Composition Wealth LLC now owns 1,014 shares of the construction company's stock worth $289,000 after purchasing an additional 34 shares during the last quarter. Harfst & Associates Inc. grew its position in Vulcan Materials by 0.6% during the 3rd quarter. Harfst & Associates Inc. now owns 6,416 shares of the construction company's stock worth $1,974,000 after purchasing an additional 38 shares during the last quarter. Capital Investment Advisors LLC grew its position in Vulcan Materials by 5.5% during the 4th quarter. Capital Investment Advisors LLC now owns 723 shares of the construction company's stock worth $206,000 after purchasing an additional 38 shares during the last quarter. Truist Financial Corp grew its position in Vulcan Materials by 0.3% during the 4th quarter. Truist Financial Corp now owns 13,331 shares of the construction company's stock worth $3,802,000 after purchasing an additional 38 shares during the last quarter. Finally, United Capital Financial Advisors LLC grew its position in Vulcan Materials by 1.2% during the 3rd quarter. United Capital Financial Advisors LLC now owns 3,095 shares of the construction company's stock worth $952,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $289.44 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09. The company has a 50 day simple moving average of $283.32 and a two-hundred day simple moving average of $292.70. The stock has a market cap of $37.56 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 2.15 and a beta of 1.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the previous year, the business posted $1.00 EPS. The business's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, analysts predict that Vulcan Materials Company will post 9.28 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were paid a $0.52 dividend. The ex-dividend date was Monday, March 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. This is an increase from Vulcan Materials's previous quarterly dividend of $0.49. Vulcan Materials's dividend payout ratio (DPR) is presently 24.73%.

Insider Activity

In related news, Director Melissa H. Anderson sold 1,137 shares of the business's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $303.72, for a total value of $345,329.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VMC shares. Barclays boosted their target price on shares of Vulcan Materials from $296.00 to $340.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Raymond James Financial set a $325.00 target price on shares of Vulcan Materials in a research report on Thursday, April 30th. Truist Financial boosted their target price on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. B. Riley Financial started coverage on shares of Vulcan Materials in a research report on Thursday, January 15th. They set a "buy" rating and a $345.00 target price on the stock. Finally, Zacks Research raised shares of Vulcan Materials from a "strong sell" rating to a "hold" rating in a research report on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $329.62.

Vulcan Materials Profile

Vulcan Materials Company NYSE: VMC is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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