Norges Bank Makes New $282.53 Million Investment in Vulcan Materials (NYSE:VMC)

Norges Bank bought a new position in shares of Vulcan Materials (NYSE:VMC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,244,564 shares of the construction company's stock, valued at approximately $282,528,000. Norges Bank owned about 0.94% of Vulcan Materials as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Duality Advisers LP acquired a new stake in Vulcan Materials in the third quarter valued at $259,000. California Public Employees Retirement System increased its position in shares of Vulcan Materials by 1.5% during the third quarter. California Public Employees Retirement System now owns 249,640 shares of the construction company's stock worth $50,432,000 after purchasing an additional 3,676 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Vulcan Materials by 9.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,954 shares of the construction company's stock worth $597,000 after purchasing an additional 249 shares in the last quarter. US Bancorp DE increased its position in shares of Vulcan Materials by 6.4% during the third quarter. US Bancorp DE now owns 66,740 shares of the construction company's stock worth $13,483,000 after purchasing an additional 4,022 shares in the last quarter. Finally, Signaturefd LLC increased its position in Vulcan Materials by 3.7% in the 3rd quarter. Signaturefd LLC now owns 1,498 shares of the construction company's stock valued at $303,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup boosted their price target on Vulcan Materials from $263.00 to $322.00 and gave the company a "buy" rating in a research report on Friday, April 5th. The Goldman Sachs Group lifted their price objective on Vulcan Materials from $264.00 to $292.00 and gave the company a "buy" rating in a report on Tuesday, February 20th. Stephens lifted their price objective on Vulcan Materials from $300.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, May 3rd. JPMorgan Chase & Co. reissued a "neutral" rating and set a $270.00 price target (up previously from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Finally, Jefferies Financial Group boosted their price target on Vulcan Materials from $298.00 to $319.00 and gave the stock a "buy" rating in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of "Moderate Buy" and an average target price of $277.08.

Vulcan Materials Price Performance

VMC stock traded down $1.41 on Wednesday, reaching $260.77. The company had a trading volume of 1,042,146 shares, compared to its average volume of 782,535. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $276.58. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 2.74. The company's fifty day moving average is $265.58 and its 200 day moving average is $242.34. The company has a market cap of $34.49 billion, a P/E ratio of 38.27, a PEG ratio of 1.94 and a beta of 0.83.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.11). The company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.50 billion. Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. Vulcan Materials's quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. On average, research analysts forecast that Vulcan Materials will post 8.53 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.84 annualized dividend and a yield of 0.71%. Vulcan Materials's dividend payout ratio (DPR) is presently 26.86%.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, VP Randy L. Pigg sold 307 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total value of $78,367.89. Following the completion of the transaction, the vice president now directly owns 1,896 shares in the company, valued at approximately $483,991.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Melissa H. Anderson sold 1,200 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $260.48, for a total transaction of $312,576.00. Following the completion of the sale, the director now directly owns 330 shares in the company, valued at approximately $85,958.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Randy L. Pigg sold 307 shares of the company's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total value of $78,367.89. Following the sale, the vice president now owns 1,896 shares of the company's stock, valued at $483,991.92. The disclosure for this sale can be found here. In the last three months, insiders sold 19,917 shares of company stock worth $5,402,800. Insiders own 0.61% of the company's stock.

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.