Baird Financial Group Inc. Increases Position in Vulcan Materials (NYSE:VMC)

Baird Financial Group Inc. increased its stake in shares of Vulcan Materials (NYSE:VMC) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,442 shares of the construction company’s stock after buying an additional 914 shares during the quarter. Baird Financial Group Inc.’s holdings in Vulcan Materials were worth $2,943,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC boosted its holdings in 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 purchasing an additional 5,627 shares during the last quarter. Smith Group Asset Management LLC purchased a new stake in Vulcan Materials in the fourth quarter valued at $514,000. Campbell Newman Asset Management Inc. purchased a new stake in Vulcan Materials in the fourth quarter valued at $15,719,000. Franklin Resources Inc. boosted its holdings in 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 purchasing an additional 33,051 shares during the last quarter. Finally, Fiduciary Alliance LLC purchased a new stake in Vulcan Materials in the fourth quarter valued at $612,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Up 0.4%

VMC opened at $269.52 on Monday. Vulcan Materials has a twelve month low of $215.08 and a twelve month high of $298.31. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $241.51 and a 200 day moving average price of $260.20. The company has a market cap of $35.60 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.20. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts expect 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 given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Monday, March 10th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s dividend payout ratio is 27.80%.

Wall Street Analysts Forecast Growth

Several research firms have commented on VMC. Seaport Res Ptn raised shares of Vulcan Materials to a “strong-buy” rating in a report on Friday, March 21st. Loop Capital lowered their price target on shares of Vulcan Materials from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Stifel Nicolaus increased their target price on shares of Vulcan Materials from $287.00 to $309.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Raymond James lowered their target price on shares of Vulcan Materials from $300.00 to $295.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Finally, Citigroup reissued a “buy” rating on shares of Vulcan Materials in a research note on Monday, March 24th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $294.73.

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.