Vulcan Materials Company $VMC Shares Bought by Alkeon Capital Management LLC

Key Points

• Alkeon Capital Management LLC increased its stake in Vulcan Materials Company by 4.4%, holding approximately 1.01% of the company's stock worth $312.2 million.
• Vulcan Materials announced a quarterly dividend of $0.49 per share, representing an annualized dividend yield of 0.7% and a payout ratio of 27.37%.
• Analysts generally hold a positive outlook on Vulcan Materials, with a consensus rating of "Buy" and a projected average target price of $308.36.

Alkeon Capital Management LLC lifted its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,338,346 shares of the construction company's stock after buying an additional 56,345 shares during the period. Vulcan Materials makes up 0.7% of Alkeon Capital Management LLC's portfolio, making the stock its 23rd biggest position. Alkeon Capital Management LLC owned 1.01% of Vulcan Materials worth $312,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Manchester Capital Management LLC lifted its position in shares of Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock worth $43,000 after purchasing an additional 39 shares during the last quarter. DRW Securities LLC raised its stake in Vulcan Materials by 2.6% during the first quarter. DRW Securities LLC now owns 1,748 shares of the construction company's stock valued at $408,000 after buying an additional 45 shares in the last quarter. Alpha Omega Wealth Management LLC raised its stake in Vulcan Materials by 1.1% during the first quarter. Alpha Omega Wealth Management LLC now owns 4,336 shares of the construction company's stock valued at $1,012,000 after buying an additional 46 shares in the last quarter. Wellington Management Group LLP raised its stake in Vulcan Materials by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock valued at $249,000 after buying an additional 51 shares in the last quarter. Finally, Marks Group Wealth Management Inc lifted its stake in Vulcan Materials by 2.7% during the first 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 during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays raised their price objective on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada reduced their price objective on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Citigroup restated a "buy" rating and set a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. UBS Group upgraded Vulcan Materials from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $280.00 to $318.00 in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. increased their price target on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $308.36.

Vulcan Materials Price Performance

VMC traded up $2.31 on Friday, reaching $294.64. The company had a trading volume of 585,178 shares, compared to its average volume of 780,035. The company has a fifty day moving average of $278.16 and a 200-day moving average of $260.46. The company has a market capitalization of $38.93 billion, a P/E ratio of 41.15, a PEG ratio of 2.39 and a beta of 0.86. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a one year low of $215.08 and a one year high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results 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 net margin of 12.52% and a return on equity of 12.81%. The company 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 earned $2.35 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is 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.