DnB Asset Management AS Has $6.71 Million Position in Vulcan Materials (NYSE:VMC)

DnB Asset Management AS grew its holdings in Vulcan Materials (NYSE:VMC) by 6.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 26,086 shares of the construction company’s stock after purchasing an additional 1,568 shares during the period. DnB Asset Management AS’s holdings in Vulcan Materials were worth $6,710,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Vulcan Materials by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after acquiring an additional 884,580 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Vulcan Materials by 22.8% in the third quarter. Cerity Partners LLC now owns 12,698 shares of the construction company’s stock worth $3,180,000 after purchasing an additional 2,354 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Vulcan Materials during the third quarter worth approximately $463,000. Townsquare Capital LLC grew its position in Vulcan Materials by 53.9% during the third quarter. Townsquare Capital LLC now owns 6,727 shares of the construction company’s stock valued at $1,685,000 after purchasing an additional 2,357 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Vulcan Materials by 32.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company’s stock valued at $184,353,000 after buying an additional 178,634 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Trading Down 2.0 %

NYSE:VMC opened at $232.90 on Monday. The company’s 50 day moving average is $253.92 and its 200-day moving average is $260.80. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $298.31. The firm has a market cap of $30.81 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.76 by $0.41. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same quarter last year, the firm posted $1.46 EPS. Equities analysts anticipate that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The firm 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 dividend yield of 0.84%. The ex-dividend date was Monday, March 10th. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is currently 28.61%.

Analysts Set New Price Targets

A number of brokerages have issued reports on VMC. Seaport Res Ptn raised shares of Vulcan Materials to a “strong-buy” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. raised Vulcan Materials from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $290.00 to $285.00 in a research report on Wednesday, March 19th. Morgan Stanley upped their target price on Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Stifel Nicolaus initiated coverage on Vulcan Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $287.00 price target for the company. Finally, Raymond James dropped their price objective on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average target price of $302.67.

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.