Vulcan Materials (NYSE:VMC) Shares Sold by Patten Group Inc.

Patten Group Inc. cut its holdings in shares of Vulcan Materials (NYSE:VMC) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 9,733 shares of the construction company’s stock after selling 182 shares during the period. Patten Group Inc.’s holdings in Vulcan Materials were worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC acquired a new position in shares of Vulcan Materials in the 3rd quarter valued at about $216,000. Janney Montgomery Scott LLC lifted its holdings in Vulcan Materials by 2.7% in the third quarter. Janney Montgomery Scott LLC now owns 53,087 shares of the construction company’s stock valued at $13,295,000 after acquiring an additional 1,373 shares during the period. BSW Wealth Partners boosted its position in Vulcan Materials by 12.3% in the 3rd quarter. BSW Wealth Partners now owns 1,424 shares of the construction company’s stock worth $357,000 after purchasing an additional 156 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after purchasing an additional 884,580 shares during the period. Finally, Valley Brook Capital Group Inc. lifted its stake in shares of Vulcan Materials by 5.1% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 1,025 shares of the construction company’s stock valued at $257,000 after purchasing an additional 50 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on VMC. JPMorgan Chase & Co. raised their price target on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Citigroup cut their price target on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada increased their price target on Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 19th. Morgan Stanley boosted their price objective on Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. 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 research report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.55.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $239.31 on Tuesday. Vulcan Materials has a 12 month low of $225.36 and a 12 month high of $298.31. 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 firm has a market capitalization of $31.62 billion, a P/E ratio of 34.94, a P/E/G ratio of 2.03 and a beta of 0.84. The company’s fifty day moving average price is $263.85 and its 200 day moving average price is $261.78.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.41. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same quarter in the previous year, the firm earned $1.46 earnings per share. As a group, sell-side analysts predict 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 will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.49 per share. 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. This represents a $1.96 annualized dividend and a dividend yield of 0.82%. Vulcan Materials’s dividend payout ratio (DPR) is presently 28.61%.

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.