Panagora Asset Management Inc. Has $63.99 Million Stock Holdings in Vulcan Materials Company $VMC

Key Points

• Panagora Asset Management Inc. significantly increased its holdings in Vulcan Materials Company by 341.3% during the first quarter, now owning approximately 0.21% of the company valued at $63.99 million.
• Vulcan Materials received upgrades from multiple analysts, with price targets adjusted upward, including a raise from $280 to $318 by UBS Group, indicating confidence in the stock's growth potential.
• The company announced a quarterly dividend of $0.49, resulting in an annualized yield of 0.7%, with a payout ratio of 27.37%.

Panagora Asset Management Inc. increased its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 341.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,275 shares of the construction company's stock after acquiring an additional 212,129 shares during the quarter. Panagora Asset Management Inc. owned 0.21% of Vulcan Materials worth $63,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of Vulcan Materials during the fourth quarter valued at $497,000. Integrated Wealth Concepts LLC grew its stake in Vulcan Materials by 34.3% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,446 shares of the construction company's stock valued at $372,000 after acquiring an additional 369 shares in the last quarter. Beacon Pointe Advisors LLC increased its holdings in shares of Vulcan Materials by 6.3% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,110 shares of the construction company's stock valued at $286,000 after purchasing an additional 66 shares during the period. Lido Advisors LLC lifted its position in shares of Vulcan Materials by 8.9% in the fourth quarter. Lido Advisors LLC now owns 1,439 shares of the construction company's stock worth $370,000 after purchasing an additional 117 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Vulcan Materials during the 4th quarter valued at $35,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VMC has been the subject of a number of research reports. Barclays lifted their price objective on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley lowered their price target on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research note on Monday, July 28th. Royal Bank Of Canada reduced their target price on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Finally, Citigroup reaffirmed a "buy" rating and issued a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. 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. According to MarketBeat.com, Vulcan Materials presently has a consensus rating of "Buy" and a consensus target price of $308.36.

Vulcan Materials Stock Performance

NYSE:VMC traded up $1.20 during trading hours on Tuesday, hitting $292.36. 1,143,651 shares of the company traded hands, compared to its average volume of 1,039,938. 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 twelve month low of $215.08 and a twelve month high of $298.31. The firm has a 50-day moving average of $276.25 and a 200 day moving average of $259.90. The stock has a market capitalization of $38.63 billion, a price-to-earnings ratio of 40.83, a P/E/G ratio of 2.38 and a beta of 0.86.

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

Vulcan Materials Dividend Announcement

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