Rhumbline Advisers Lowers Position in Vulcan Materials (NYSE:VMC)

Rhumbline Advisers trimmed its position in shares of Vulcan Materials (NYSE:VMC) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 247,332 shares of the construction company’s stock after selling 2,833 shares during the quarter. Rhumbline Advisers’ holdings in Vulcan Materials were worth $63,621,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Vulcan Materials during the third quarter valued at about $811,000. DAVENPORT & Co LLC lifted its position in shares of Vulcan Materials by 149.4% during the fourth quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock valued at $2,416,000 after buying an additional 5,627 shares during the last quarter. Smith Group Asset Management LLC purchased a new stake in shares of Vulcan Materials during the fourth quarter valued at about $514,000. Campbell Newman Asset Management Inc. purchased a new stake in shares of Vulcan Materials during the fourth quarter valued at about $15,719,000. Finally, Franklin Resources Inc. lifted its position 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 buying an additional 33,051 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on VMC. Citigroup decreased their price target on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Stephens restated an “overweight” rating and set a $325.00 price objective on shares of Vulcan Materials in a report on Thursday, January 2nd. JPMorgan Chase & Co. upped their price objective on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Barclays upped their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, UBS Group initiated coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $301.18.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $270.58 on Monday. Vulcan Materials has a twelve month low of $225.36 and a twelve month high of $298.31. The company’s 50 day moving average is $267.64 and its 200 day moving average is $261.49. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The company has a market cap of $35.73 billion, a PE ratio of 42.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.84.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 0.72%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s dividend payout ratio is 29.02%.

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.