The Manufacturers Life Insurance Company Reduces Stock Holdings in Vulcan Materials (NYSE:VMC)

The Manufacturers Life Insurance Company reduced its stake in shares of Vulcan Materials (NYSE:VMC - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,736 shares of the construction company's stock after selling 4,695 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Vulcan Materials worth $19,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Vulcan Materials during the 3rd quarter worth approximately $811,000. DAVENPORT & Co LLC boosted its stake in Vulcan Materials by 149.4% during the fourth quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company's stock worth $2,416,000 after acquiring an additional 5,627 shares in the last quarter. Smith Group Asset Management LLC acquired a new stake in Vulcan Materials in the fourth quarter worth $514,000. Campbell Newman Asset Management Inc. bought a new stake in Vulcan Materials in the fourth quarter valued at $15,719,000. Finally, Franklin Resources Inc. raised its holdings in shares of Vulcan Materials by 284.9% during the third quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company's stock valued at $11,104,000 after purchasing an additional 33,051 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VMC. Raymond James cut their price target on Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Argus upgraded Vulcan Materials to a "strong-buy" rating in a report on Thursday, April 24th. Stephens set a $315.00 price target on shares of Vulcan Materials and gave the company an "overweight" rating in a research note on Thursday, May 1st. Loop Capital dropped their price objective on shares of Vulcan Materials from $325.00 to $320.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Finally, Morgan Stanley reduced their price objective on shares of Vulcan Materials from $300.00 to $273.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of "Moderate Buy" and an average target price of $294.73.

Vulcan Materials Trading Down 1.0 %

Vulcan Materials stock traded down $2.62 during mid-day trading on Tuesday, reaching $267.42. 658,209 shares of the company traded hands, compared to its average volume of 934,571. The firm's 50 day moving average price is $239.42 and its 200 day moving average price is $259.87. Vulcan Materials has a 52-week low of $215.08 and a 52-week high of $298.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. The firm has a market capitalization of $35.33 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of 2.03 and a beta of 0.84.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.20. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. On average, analysts anticipate that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.73%. This is an increase from Vulcan Materials's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, March 10th. Vulcan Materials's dividend payout ratio is 27.80%.

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.