Vulcan Materials (NYSE:VMC) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Vulcan Materials (NYSE:VMC) by 96.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,928 shares of the construction company’s stock after purchasing an additional 18,664 shares during the period. CIBC Asset Management Inc’s holdings in Vulcan Materials were worth $9,755,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of VMC. Virtu Financial LLC purchased a new position in shares of Vulcan Materials in the third quarter valued at approximately $811,000. DAVENPORT & Co LLC lifted its position in shares of Vulcan Materials by 149.4% in the fourth quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock valued at $2,416,000 after acquiring an additional 5,627 shares in the last quarter. Smith Group Asset Management LLC purchased a new position in shares of Vulcan Materials in the fourth quarter valued at approximately $514,000. Campbell Newman Asset Management Inc. purchased a new position in shares of Vulcan Materials in the fourth quarter valued at approximately $15,719,000. Finally, Franklin Resources Inc. lifted its position in shares of Vulcan Materials by 284.9% in the third quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company’s stock valued at $11,104,000 after acquiring an additional 33,051 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

VMC stock opened at $272.34 on Wednesday. The business has a fifty day moving average of $267.43 and a two-hundred day moving average of $261.39. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The stock has a market cap of $35.96 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 2.14 and a beta of 0.84. Vulcan Materials has a 52-week low of $225.36 and a 52-week high of $298.31.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.41. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. During the same quarter in the previous year, the business earned $1.46 earnings per share. As a group, research analysts anticipate that Vulcan Materials will post 7.16 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, March 10th. This is a boost 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 0.72%. Vulcan Materials’s payout ratio is presently 29.02%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. UBS Group assumed coverage on Vulcan Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $349.00 target price on the stock. Raymond James reduced their price objective 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. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Citigroup reduced their price objective on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.18.

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.