Hsbc Holdings PLC Grows Position in Vulcan Materials (NYSE:VMC)

Hsbc Holdings PLC raised its stake in shares of Vulcan Materials (NYSE:VMC) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,266 shares of the construction company’s stock after purchasing an additional 22,461 shares during the quarter. Hsbc Holdings PLC owned about 0.20% of Vulcan Materials worth $67,740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in VMC. Norges Bank acquired a new position in shares of Vulcan Materials in the 4th quarter valued at $380,369,000. Principal Financial Group Inc. increased its holdings in shares of Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after purchasing an additional 884,580 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Vulcan Materials by 28,529.4% in the fourth quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company’s stock worth $134,694,000 after purchasing an additional 521,802 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Vulcan Materials in the fourth quarter worth about $74,760,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Vulcan Materials by 125.0% during the fourth quarter. HighTower Advisors LLC now owns 335,984 shares of the construction company’s stock worth $86,425,000 after purchasing an additional 186,641 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Up 2.1 %

Shares of VMC opened at $249.58 on Friday. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. The firm has a market cap of $33.01 billion, a P/E ratio of 36.44, a PEG ratio of 2.03 and a beta of 0.80. The stock’s 50 day moving average is $239.39 and its two-hundred day moving average is $259.37. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.41. The firm had revenue of $1.85 billion for 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 quarter last year, the company earned $1.46 EPS. 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 was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a $0.49 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 0.79%. Vulcan Materials’s dividend payout ratio (DPR) is currently 28.61%.

Analyst Ratings Changes

A number of research firms have issued reports on VMC. Stifel Nicolaus initiated coverage on shares of Vulcan Materials in a research report on Tuesday, March 4th. They set a “buy” rating and a $287.00 price target for the company. JPMorgan Chase & Co. raised shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $290.00 to $285.00 in a report on Wednesday, March 19th. Stephens reaffirmed an “overweight” rating and issued a $325.00 price target on shares of Vulcan Materials in a report on Thursday, January 2nd. Loop Capital reduced their price objective on Vulcan Materials from $325.00 to $320.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Finally, Royal Bank of Canada boosted their price objective on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $293.64.

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.