Oppenheimer Asset Management Inc. Purchases 8,332 Shares of Vulcan Materials (NYSE:VMC)

Oppenheimer Asset Management Inc. lifted its position in shares of Vulcan Materials (NYSE:VMC) by 145.6% in the fourth quarter, HoldingsChannel reports. The fund owned 14,054 shares of the construction company’s stock after buying an additional 8,332 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Vulcan Materials were worth $3,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VMC. Mn Services Vermogensbeheer B.V. lifted its position in Vulcan Materials by 1.6% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 51,800 shares of the construction company’s stock valued at $13,325,000 after purchasing an additional 800 shares during the period. New York Life Investment Management LLC lifted its holdings in Vulcan Materials by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 19,618 shares of the construction company’s stock valued at $5,046,000 after buying an additional 55 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Vulcan Materials by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,334 shares of the construction company’s stock valued at $2,915,000 after buying an additional 71 shares during the period. Impact Investors Inc bought a new position in Vulcan Materials in the fourth quarter valued at approximately $407,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Vulcan Materials by 1.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 24,792 shares of the construction company’s stock valued at $6,377,000 after acquiring an additional 424 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Raymond James reduced their target price on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. Citigroup reduced their price objective 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. Royal Bank of Canada upped their target price on shares of Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 19th. Morgan Stanley lifted their price target on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Finally, Stephens restated an “overweight” rating and issued a $325.00 price objective on shares of Vulcan Materials in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $304.55.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $247.55 on Friday. The company has a fifty day moving average price of $264.32 and a 200 day moving average price of $261.70. The firm has a market cap of $32.70 billion, a PE ratio of 36.14, a PEG ratio of 2.03 and a beta of 0.84. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 1-year low of $225.36 and a 1-year high of $298.31.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.41. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. Research analysts predict that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Monday, March 10th. 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 0.79%. Vulcan Materials’s dividend payout ratio (DPR) is 28.61%.

About Vulcan Materials

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.