PNC Financial Services Group Inc. Trims Stake in Vulcan Materials (NYSE:VMC)

PNC Financial Services Group Inc. lessened its position in Vulcan Materials (NYSE:VMC) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,703 shares of the construction company’s stock after selling 2,834 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vulcan Materials were worth $12,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Vulcan Materials in the third quarter worth $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Vulcan Materials in the 4th quarter worth about $31,000. UMB Bank n.a. increased its stake in shares of Vulcan Materials by 138.5% in the 4th quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock worth $48,000 after acquiring an additional 108 shares in the last quarter. Washington Trust Advisors Inc. lifted its position 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 acquiring an additional 48 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in Vulcan Materials during the third quarter worth about $57,000. 90.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on VMC. Morgan Stanley lifted their target price on shares of Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Stifel Nicolaus began coverage on Vulcan Materials in a research note on Tuesday, March 4th. They set a “buy” rating and a $287.00 price objective for the company. Royal Bank of Canada boosted their target price on Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 19th. Stephens restated an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a report on Thursday, January 2nd. Finally, Citigroup dropped their price target on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus target price of $303.08.

Vulcan Materials Price Performance

VMC opened at $225.22 on Wednesday. The company’s 50-day simple moving average is $260.00 and its two-hundred day simple moving average is $261.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.02 and a current ratio of 1.83. The stock has a market capitalization of $29.75 billion, a P/E ratio of 32.88, a P/E/G ratio of 2.03 and a beta of 0.80. 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 data 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. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. As a group, analysts predict that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.49 dividend. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 10th. Vulcan Materials’s dividend payout ratio (DPR) is 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.