BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stock Position in Vulcan Materials (NYSE:VMC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Vulcan Materials (NYSE:VMC) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 141,714 shares of the construction company’s stock after buying an additional 17,812 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.11% of Vulcan Materials worth $35,489,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of Vulcan Materials by 62.1% during the 1st quarter. Janus Henderson Group PLC now owns 30,226 shares of the construction company’s stock valued at $8,247,000 after acquiring an additional 11,583 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Vulcan Materials in the 1st quarter worth approximately $282,000. Swedbank AB purchased a new stake in Vulcan Materials in the 1st quarter worth approximately $519,000. Cetera Investment Advisers grew its stake in Vulcan Materials by 111.5% in the 1st quarter. Cetera Investment Advisers now owns 14,423 shares of the construction company’s stock worth $3,936,000 after acquiring an additional 7,603 shares during the period. Finally, Cetera Advisors LLC grew its stake in Vulcan Materials by 118.1% in the 1st quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock worth $1,132,000 after acquiring an additional 2,245 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

VMC opened at $288.13 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. Vulcan Materials has a 1-year low of $209.60 and a 1-year high of $298.31. The company has a 50-day moving average of $265.28 and a 200-day moving average of $255.35. The company has a market capitalization of $38.05 billion, a P/E ratio of 45.45, a PEG ratio of 2.77 and a beta of 0.81.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the company earned $2.29 EPS. Vulcan Materials’s quarterly revenue was down 8.3% on a year-over-year basis. Equities analysts expect that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 4th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Monday, November 4th. Vulcan Materials’s dividend payout ratio is presently 29.02%.

Analyst Upgrades and Downgrades

Several research firms have commented on VMC. Stephens lowered their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada lowered their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Barclays boosted their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Citigroup lowered their price objective on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Truist Financial boosted their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.92.

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.