Norges Bank Makes New $383.61 Million Investment in Vulcan Materials Company $VMC

Norges Bank acquired a new stake in Vulcan Materials Company (NYSE:VMC) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,344,971 shares of the construction company’s stock, valued at approximately $383,613,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. raised its holdings in Vulcan Materials by 100.0% in the third quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. NBT Bank N A NY acquired a new position in shares of Vulcan Materials in the 4th quarter valued at $26,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Vulcan Materials in the 3rd quarter valued at $29,000. Godsey & Gibb Inc. purchased a new position in Vulcan Materials in the 4th quarter valued at $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Vulcan Materials in the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $281.52 on Tuesday. The stock has a 50 day moving average of $280.29 and a 200-day moving average of $290.36. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The stock has a market cap of $36.53 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51.

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

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is currently 24.73%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Raymond James Financial set a $325.00 target price on shares of Vulcan Materials in a research report on Thursday, April 30th. Stephens upped their target price on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company upped their price objective on shares of Vulcan Materials from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, Citigroup dropped their price objective on shares of Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.58.

Vulcan Materials 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.