Vulcan Materials Company $VMC Shares Purchased by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors LLC has increased its stake in Vulcan Materials Company by 5.5%, making it the fund's second-largest position with an ownership of 362,701 shares worth approximately $84.6 million.
• Analysts are optimistic about Vulcan Materials, with a consensus rating of "Buy" and target prices ranging from $279 to $321, indicating potential upside for the stock.
• The company recently declared a quarterly dividend of $0.49 per share, reflecting a yield of 0.7%, with a payout ratio of 27.37% of earnings.

Ceredex Value Advisors LLC grew its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 362,701 shares of the construction company's stock after purchasing an additional 18,780 shares during the period. Vulcan Materials comprises about 1.8% of Ceredex Value Advisors LLC's portfolio, making the stock its 2nd largest position. Ceredex Value Advisors LLC owned approximately 0.27% of Vulcan Materials worth $84,618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Manchester Capital Management LLC grew its position in shares of Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after purchasing an additional 39 shares during the period. Alpha Omega Wealth Management LLC boosted its stake in Vulcan Materials by 1.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 4,336 shares of the construction company's stock worth $1,012,000 after purchasing an additional 46 shares during the period. Wellington Management Group LLP increased 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 worth $249,000 after purchasing an additional 51 shares in the last quarter. Marks Group Wealth Management Inc increased 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 worth $514,000 after purchasing an additional 57 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Vulcan Materials by 10.0% in the 1st quarter. Allworth Financial LP now owns 651 shares of the construction company's stock valued at $163,000 after purchasing an additional 59 shares during the period. 90.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VMC has been the subject of several recent research reports. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Citigroup restated a "buy" rating and issued a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Barclays raised 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. Stifel Nicolaus boosted their price objective on shares of Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley decreased their target price on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Vulcan Materials presently has an average rating of "Buy" and an average price target of $308.36.

Vulcan Materials Stock Down 0.0%

Shares of NYSE VMC traded down $0.07 during trading hours on Friday, hitting $291.09. The company had a trading volume of 609,873 shares, compared to its average volume of 862,417. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $298.31. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The firm's 50 day moving average is $275.65 and its 200-day moving average is $259.85. The stock has a market capitalization of $38.46 billion, a P/E ratio of 40.66, a price-to-earnings-growth ratio of 2.38 and a beta of 0.83.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its earnings results 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 analyst estimates of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.Vulcan Materials's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.35 earnings per share. On average, analysts expect 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 will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 14th. Vulcan Materials's payout ratio is currently 27.37%.

Vulcan Materials Company 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.