Raymond James Financial Inc. Increases Holdings in Vulcan Materials Company $VMC

Key Points

• Raymond James Financial Inc. increased its stake in Vulcan Materials Company by 1.1%, acquiring an additional 3,313 shares, bringing its total holdings to 293,949 shares valued at approximately $68.6 million.
• Vulcan Materials reported earnings per share of $2.45 for the last quarter, missing analysts' expectations, while its revenue came in at $2.10 billion, also below forecasts.
• The company has announced a quarterly dividend of $0.49 per share, representing an annualized dividend yield of 0.7% and a payout ratio of 27.37%.

Raymond James Financial Inc. lifted its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,949 shares of the construction company's stock after acquiring an additional 3,313 shares during the quarter. Raymond James Financial Inc. owned approximately 0.22% of Vulcan Materials worth $68,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC boosted its holdings in shares of Vulcan Materials by 21.0% during the 1st quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock worth $222,000 after buying an additional 165 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Vulcan Materials by 42.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock valued at $3,686,000 after buying an additional 4,678 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Vulcan Materials by 24.3% during the first quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock valued at $215,000 after buying an additional 180 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Vulcan Materials by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock valued at $398,000 after buying an additional 365 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Vulcan Materials by 5.6% in the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock worth $249,000 after purchasing an additional 51 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price objective on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $280.00 to $318.00 in a report on Friday, May 16th. Citigroup reissued a "buy" rating and set a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Finally, Stephens set a $315.00 price objective on Vulcan Materials and gave the stock an "overweight" rating in a report on Thursday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $308.36.

Vulcan Materials Price Performance

Shares of NYSE VMC traded up $1.14 during trading hours on Tuesday, reaching $291.44. 839,485 shares of the stock traded hands, compared to its average volume of 1,014,056. The company has a market capitalization of $38.50 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 2.37 and a beta of 0.83. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31. The company's 50-day simple moving average is $273.60 and its two-hundred day simple moving average is $259.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The firm had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.35 earnings per share. Equities research analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 14th. Vulcan Materials's dividend payout ratio (DPR) is currently 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.