Verition Fund Management LLC Buys 17,998 Shares of Vulcan Materials Company $VMC

Verition Fund Management LLC lifted its stake in shares of Vulcan Materials Company (NYSE:VMC) by 56.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,894 shares of the construction company’s stock after acquiring an additional 17,998 shares during the quarter. Verition Fund Management LLC’s holdings in Vulcan Materials were worth $14,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. NBT Bank N A NY acquired a new stake in Vulcan Materials during the fourth quarter worth approximately $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Vulcan Materials during the third quarter worth approximately $30,000. Godsey & Gibb Inc. acquired a new stake in Vulcan Materials during the fourth quarter worth approximately $30,000. WPG Advisers LLC grew its stake in Vulcan Materials by 56.4% during the fourth quarter. WPG Advisers LLC now owns 122 shares of the construction company’s stock worth $35,000 after purchasing an additional 44 shares during the period. Finally, Concord Wealth Partners acquired a new stake in Vulcan Materials during the fourth quarter worth approximately $36,000. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on VMC shares. Stephens raised their target price on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Barclays raised their target price on Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. DA Davidson decreased their target price on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Citigroup decreased their target price on Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Berenberg Bank set a $283.00 target price on Vulcan Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $326.92.

Vulcan Materials Stock Up 2.4%

VMC stock opened at $293.25 on Tuesday. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average is $282.88 and its 200-day moving average is $290.05. The firm has a market capitalization of $38.05 billion, a PE ratio of 34.87, a P/E/G ratio of 2.07 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts expect that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, May 22nd. Vulcan Materials’s dividend payout ratio (DPR) is 24.73%.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.