Cibc World Markets Corp Increases Stock Position in Vulcan Materials (NYSE:VMC)

Cibc World Markets Corp boosted its holdings in Vulcan Materials (NYSE:VMC) by 298.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,582 shares of the construction company’s stock after acquiring an additional 53,631 shares during the quarter. Cibc World Markets Corp owned 0.05% of Vulcan Materials worth $18,413,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Vulcan Materials in the 3rd quarter worth about $811,000. DAVENPORT & Co LLC grew its stake 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 worth $2,416,000 after acquiring an additional 5,627 shares during the period. Smith Group Asset Management LLC bought a new stake in shares of Vulcan Materials in the fourth quarter worth approximately $514,000. Campbell Newman Asset Management Inc. purchased a new position in shares of Vulcan Materials during the fourth quarter valued at approximately $15,719,000. Finally, Franklin Resources Inc. lifted its position in Vulcan Materials by 284.9% during 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 period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Stock Up 1.7 %

Shares of VMC stock opened at $235.29 on Tuesday. The company has a market capitalization of $31.08 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 2.03 and a beta of 0.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. The company’s fifty day moving average price is $257.85 and its 200-day moving average price is $260.69. Vulcan Materials has a one year low of $215.08 and a one year high of $298.31.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, beating 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 business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the business earned $1.46 earnings per share. Sell-side analysts expect that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 0.83%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 10th. Vulcan Materials’s dividend payout ratio is presently 28.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on VMC shares. Morgan Stanley increased their price target on Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. JPMorgan Chase & Co. increased their target price on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Stifel Nicolaus initiated coverage on Vulcan Materials in a research note on Tuesday, March 4th. They set a “buy” rating and a $287.00 price target for the company. Citigroup lowered 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. Finally, Stephens restated an “overweight” rating and set a $325.00 target price on shares of Vulcan Materials in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $303.08.

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.