Vulcan Materials (NYSE:VMC) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Vulcan Materials (NYSE:VMC) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 877,701 shares of the construction company’s stock after purchasing an additional 13,227 shares during the quarter. Bank of New York Mellon Corp owned about 0.66% of Vulcan Materials worth $225,771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in VMC. Ashton Thomas Securities LLC acquired a new stake in Vulcan Materials in the third quarter worth $30,000. Washington Trust Advisors Inc. grew its position in shares of Vulcan Materials by 240.4% during the third quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock worth $40,000 after acquiring an additional 113 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Vulcan Materials in the 3rd quarter worth about $42,000. 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, FSA Wealth Management LLC bought a new stake in Vulcan Materials in the 3rd quarter valued at about $57,000. Institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on VMC. Raymond James decreased their target price on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. Morgan Stanley increased their price objective on Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday. UBS Group began coverage on Vulcan Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $349.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $325.00 price target on shares of Vulcan Materials in a research note on Thursday, January 2nd. Finally, StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $304.55.

Vulcan Materials Stock Performance

NYSE:VMC opened at $245.34 on Friday. The company has a 50-day moving average of $264.63 and a 200-day moving average of $261.54. The firm has a market cap of $32.40 billion, a price-to-earnings ratio of 35.82, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. Vulcan Materials has a twelve month low of $225.36 and a twelve month high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.41. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same period last year, the firm posted $1.46 earnings per share. 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 announced 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 dividend on an annualized basis and a dividend yield of 0.80%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 10th. Vulcan Materials’s payout ratio is presently 28.61%.

Vulcan Materials Company 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.