Daiwa Securities Group Inc. cut its holdings in shares of Vulcan Materials (NYSE:VMC) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,961 shares of the construction company’s stock after selling 6,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Vulcan Materials were worth $5,233,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue boosted its position in shares of Vulcan Materials by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 23,039 shares of the construction company’s stock worth $2,274,000 after buying an additional 119 shares during the period. Patten & Patten Inc. TN lifted its position in Vulcan Materials by 1.5% in the fourth quarter. Patten & Patten Inc. TN now owns 8,504 shares of the construction company’s stock worth $840,000 after purchasing an additional 125 shares during the period. First Personal Financial Services lifted its position in Vulcan Materials by 74.5% in the fourth quarter. First Personal Financial Services now owns 342 shares of the construction company’s stock worth $34,000 after purchasing an additional 146 shares during the period. ETF Managers Group LLC lifted its position in Vulcan Materials by 15.5% in the fourth quarter. ETF Managers Group LLC now owns 1,137 shares of the construction company’s stock worth $112,000 after purchasing an additional 153 shares during the period. Finally, Moody National Bank Trust Division lifted its position in Vulcan Materials by 0.7% in the fourth quarter. Moody National Bank Trust Division now owns 24,758 shares of the construction company’s stock worth $2,446,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.
VMC has been the subject of a number of research analyst reports. Bank of America downgraded Vulcan Materials from a “neutral” rating to an “underperform” rating and set a $103.00 target price for the company. in a research report on Wednesday, October 17th. Nomura initiated coverage on Vulcan Materials in a research report on Monday, October 29th. They issued a “neutral” rating and a $100.00 target price for the company. Stephens set a $125.00 target price on Vulcan Materials and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Barclays restated a “buy” rating and issued a $132.00 target price on shares of Vulcan Materials in a research report on Thursday, October 18th. Finally, Citigroup cut their target price on Vulcan Materials from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $121.73.
VMC opened at $105.61 on Tuesday. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 0.96 and a beta of 0.93. Vulcan Materials has a 1-year low of $82.52 and a 1-year high of $134.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.70 and a quick ratio of 1.11.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 22nd will be issued a $0.31 dividend. The ex-dividend date is Thursday, February 21st. This represents a $1.24 annualized dividend and a dividend yield of 1.17%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.28. Vulcan Materials’s dividend payout ratio is currently 36.84%.
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Vulcan Materials Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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.
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