Sompo Asset Management Co. Ltd. Boosts Stock Holdings in Vulcan Materials (NYSE:VMC)

Sompo Asset Management Co. Ltd. grew its position in shares of Vulcan Materials (NYSE:VMC) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,100 shares of the construction company’s stock after buying an additional 140 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Vulcan Materials were worth $526,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after purchasing an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Vulcan Materials by 18.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after buying an additional 330,433 shares during the last quarter. Ceredex Value Advisors LLC raised its position in Vulcan Materials by 136.3% in the third quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock worth $89,117,000 after acquiring an additional 205,260 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Vulcan Materials by 1,191.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,005 shares of the construction company’s stock valued at $39,541,000 after acquiring an additional 146,695 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Vulcan Materials by 136.1% during the 2nd quarter. AQR Capital Management LLC now owns 184,471 shares of the construction company’s stock worth $45,874,000 after purchasing an additional 106,324 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VMC. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. UBS Group initiated coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price objective on the stock. Barclays increased their target price on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Citigroup dropped their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $280.46.

Vulcan Materials Price Performance

NYSE:VMC opened at $284.61 on Monday. Vulcan Materials has a 52-week low of $209.60 and a 52-week high of $298.31. The stock has a fifty day moving average of $261.25 and a 200 day moving average of $254.53. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The firm has a market capitalization of $37.59 billion, a price-to-earnings ratio of 44.89, a P/E/G ratio of 2.75 and a beta of 0.81.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) 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 quarter last year, the business posted $2.29 EPS. The business’s revenue was down 8.3% compared to the same quarter last year. On average, research analysts expect that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a yield of 0.65%. Vulcan Materials’s payout ratio is 29.02%.

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.