Flputnam Investment Management Co. Cuts Stake in Vulcan Materials (NYSE:VMC)

Flputnam Investment Management Co. cut its holdings in shares of Vulcan Materials (NYSE:VMC) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,376 shares of the construction company’s stock after selling 121 shares during the quarter. Flputnam Investment Management Co.’s holdings in Vulcan Materials were worth $354,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC purchased a new position in Vulcan Materials in the 3rd quarter worth $216,000. Janney Montgomery Scott LLC increased its holdings in shares of Vulcan Materials by 2.7% in the third quarter. Janney Montgomery Scott LLC now owns 53,087 shares of the construction company’s stock worth $13,295,000 after buying an additional 1,373 shares during the period. BSW Wealth Partners increased its holdings in shares of Vulcan Materials by 12.3% in the third quarter. BSW Wealth Partners now owns 1,424 shares of the construction company’s stock worth $357,000 after buying an additional 156 shares during the period. Principal Financial Group Inc. lifted its stake in shares of 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 valued at $1,332,431,000 after acquiring an additional 884,580 shares during the last quarter. Finally, Valley Brook Capital Group Inc. boosted its holdings in Vulcan Materials by 5.1% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 1,025 shares of the construction company’s stock valued at $257,000 after acquiring an additional 50 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Price Performance

VMC stock opened at $239.31 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. Vulcan Materials has a 1 year low of $225.36 and a 1 year high of $298.31. The firm has a 50-day moving average of $263.85 and a 200 day moving average of $261.78. The company has a market cap of $31.62 billion, a P/E ratio of 34.94, a PEG ratio of 2.03 and a beta of 0.84.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.41. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.81 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. During the same quarter in the prior year, the company earned $1.46 EPS. On average, sell-side analysts forecast that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is 28.61%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Raymond James decreased their price target on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, January 16th. Stephens reaffirmed an “overweight” rating and issued a $325.00 target price on shares of Vulcan Materials in a research note on Thursday, January 2nd. Morgan Stanley increased their price target on shares of Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Citigroup decreased their price objective on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, UBS Group began coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 target price for the company. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.55.

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.