New York Life Investment Management LLC Has $5.05 Million Stock Position in Vulcan Materials (NYSE:VMC)

New York Life Investment Management LLC grew its position in Vulcan Materials (NYSE:VMC) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,618 shares of the construction company’s stock after purchasing an additional 55 shares during the period. New York Life Investment Management LLC’s holdings in Vulcan Materials were worth $5,046,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its position in Vulcan Materials by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,334 shares of the construction company’s stock worth $2,915,000 after purchasing an additional 71 shares during the last quarter. Impact Investors Inc acquired a new position in Vulcan Materials in the 4th quarter worth about $407,000. Los Angeles Capital Management LLC increased its position in Vulcan Materials by 1.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 24,792 shares of the construction company’s stock worth $6,377,000 after purchasing an additional 424 shares during the last quarter. Avalon Capital Management acquired a new position in Vulcan Materials in the 4th quarter worth about $318,000. Finally, Bank of New York Mellon Corp increased its position in Vulcan Materials by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 877,701 shares of the construction company’s stock worth $225,771,000 after purchasing an additional 13,227 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $247.55 on Friday. The business has a 50 day moving average price of $264.32 and a 200 day moving average price of $261.58. Vulcan Materials has a twelve month low of $225.36 and a twelve month high of $298.31. The company has a market cap of $32.69 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 2.03 and a beta of 0.84. 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 (NYSE:VMC) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.41. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the company earned $1.46 EPS. Research analysts predict that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a $0.49 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s dividend payout ratio (DPR) is currently 28.61%.

Analyst Ratings Changes

VMC has been the topic of several research reports. Citigroup dropped their target price on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Truist Financial increased their price objective on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price objective on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a report on Wednesday, February 19th. UBS Group started coverage on Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus target price of $304.55.

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.