Vulcan Materials (NYSE:VMC) Holdings Cut by Gabelli Funds LLC

Gabelli Funds LLC cut its stake in shares of Vulcan Materials (NYSE:VMC) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,300 shares of the construction company’s stock after selling 600 shares during the quarter. Gabelli Funds LLC’s holdings in Vulcan Materials were worth $9,080,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Murphy & Mullick Capital Management Corp bought a new position in Vulcan Materials during the 4th quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in shares of Vulcan Materials during the fourth quarter worth about $31,000. Generali Asset Management SPA SGR acquired a new stake in shares of Vulcan Materials in the 4th quarter worth about $32,000. UMB Bank n.a. lifted its position in Vulcan Materials by 138.5% in the 4th quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock valued at $48,000 after purchasing an additional 108 shares during the last quarter. Finally, Washington Trust Advisors Inc. boosted its stake in Vulcan Materials by 30.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company’s stock valued at $54,000 after purchasing an additional 48 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $240.84 on Thursday. The stock’s fifty day simple moving average is $242.55 and its 200 day simple moving average is $259.41. The stock has a market capitalization of $31.86 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 2.03 and a beta of 0.80. 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 has a 52-week low of $215.08 and a 52-week high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, beating 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 earnings per share. As a group, sell-side analysts forecast that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.49 per share. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Monday, March 10th. Vulcan Materials’s dividend payout ratio (DPR) is currently 28.61%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VMC. JPMorgan Chase & Co. raised Vulcan Materials from a “neutral” rating to an “overweight” rating and cut their price target for the company from $290.00 to $285.00 in a report on Wednesday, March 19th. UBS Group cut Vulcan Materials from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $343.00 to $258.00 in a research note on Monday, April 7th. Stephens reissued an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a report on Thursday, January 2nd. Morgan Stanley reduced their price objective on shares of Vulcan Materials from $300.00 to $273.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Stifel Nicolaus started coverage on shares of Vulcan Materials in a research note on Tuesday, March 4th. They set a “buy” rating and a $287.00 target price on the stock. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $295.75.

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.