Clearbridge Investments LLC Cuts Stock Holdings in Vulcan Materials (NYSE:VMC)

Clearbridge Investments LLC trimmed its holdings in Vulcan Materials (NYSE:VMC) by 10.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,491,835 shares of the construction company’s stock after selling 297,463 shares during the quarter. Clearbridge Investments LLC owned about 1.89% of Vulcan Materials worth $640,975,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Vulcan Materials by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,352,507 shares of the construction company’s stock worth $4,206,355,000 after purchasing an additional 90,157 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Vulcan Materials by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company’s stock worth $1,559,380,000 after acquiring an additional 741,631 shares during the period. State Street Corp increased its position in Vulcan Materials by 1.2% during the third quarter. State Street Corp now owns 5,281,102 shares of the construction company’s stock valued at $1,322,546,000 after acquiring an additional 65,163 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Vulcan Materials by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company’s stock valued at $826,644,000 after acquiring an additional 33,061 shares during the period. Finally, Norges Bank bought a new position in Vulcan Materials in the fourth quarter valued at about $380,369,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Trading Down 2.0 %

VMC stock opened at $232.90 on Friday. Vulcan Materials has a 1-year low of $215.08 and a 1-year high of $298.31. The business has a 50 day simple moving average of $253.92 and a two-hundred day simple moving average of $260.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.41. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate 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 previous year, the company posted $1.46 EPS. Research analysts anticipate that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.49 dividend. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Monday, March 10th. Vulcan Materials’s dividend payout ratio is 28.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VMC shares. Morgan Stanley upped 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. Royal Bank of Canada upped their target price on shares of Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a report on Wednesday, February 19th. Stephens reiterated an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a research note on Thursday, January 2nd. Citigroup cut their price objective 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. Finally, Raymond James decreased their target price 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 investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.