State Farm Mutual Automobile Insurance Co. Has $2.23 Billion Stake in Vulcan Materials Company $VMC

Key Points

• State Farm Mutual Automobile Insurance Co. has reduced its stake in Vulcan Materials Company by 1.0%, now holding approximately 9.55 million shares, which represents 2.0% of its investment portfolio.
• Vulcan Materials reported earnings per share (EPS) of $2.45 for the last quarter, missing expectations, with revenues of $2.10 billion also falling short of analysts' predictions.
• The company has announced a quarterly dividend of $0.49, with an annualized yield of 0.7%, and a payout ratio of 27.37%.

State Farm Mutual Automobile Insurance Co. lessened its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,554,660 shares of the construction company's stock after selling 92,400 shares during the period. Vulcan Materials accounts for 2.0% of State Farm Mutual Automobile Insurance Co.'s portfolio, making the stock its 17th biggest holding. State Farm Mutual Automobile Insurance Co. owned about 7.23% of Vulcan Materials worth $2,229,102,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of VMC. Horizon Investments LLC lifted its holdings in shares of Vulcan Materials by 8.0% in the first quarter. Horizon Investments LLC now owns 9,405 shares of the construction company's stock valued at $2,194,000 after buying an additional 693 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in Vulcan Materials by 4.9% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 12,833 shares of the construction company's stock valued at $2,994,000 after acquiring an additional 594 shares during the last quarter. Harfst & Associates Inc. bought a new position in shares of Vulcan Materials during the 1st quarter valued at about $261,000. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Vulcan Materials by 8.7% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,420 shares of the construction company's stock worth $1,031,000 after purchasing an additional 355 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Vulcan Materials in the 1st quarter worth approximately $72,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VMC. 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 dropped their price target on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research report 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 report on Monday, July 28th. Argus raised shares of Vulcan Materials to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Barclays upped their price target on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $304.27.

Vulcan Materials Stock Down 2.4%

Shares of Vulcan Materials stock traded down $7.0560 during midday trading on Wednesday, reaching $285.7840. 1,098,066 shares of the company's stock traded hands, compared to its average volume of 1,027,017. 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 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 $271.27 and its 200 day simple moving average is $258.93. The company has a market cap of $37.76 billion, a price-to-earnings ratio of 39.91, a price-to-earnings-growth ratio of 2.39 and a beta of 0.83.

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

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th will be paid 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 of this dividend is Thursday, August 14th. Vulcan Materials's dividend payout ratio (DPR) is presently 27.37%.

Vulcan Materials 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.