Vulcan Materials (NYSE:VMC) Position Decreased by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its holdings in Vulcan Materials (NYSE:VMC) by 73.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,213 shares of the construction company’s stock after selling 25,148 shares during the quarter. Teacher Retirement System of Texas’ holdings in Vulcan Materials were worth $2,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Vulcan Materials during the 3rd quarter valued at $811,000. DAVENPORT & Co LLC lifted its holdings in shares of Vulcan Materials by 149.4% during 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 acquired a new position in shares of Vulcan Materials in the 4th quarter valued at $514,000. Campbell Newman Asset Management Inc. purchased a new position in Vulcan Materials in the 4th quarter worth about $15,719,000. Finally, Franklin Resources Inc. raised its holdings in Vulcan Materials by 284.9% during the 3rd quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company’s stock worth $11,104,000 after buying an additional 33,051 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Trading Down 1.7 %

NYSE:VMC opened at $236.97 on Thursday. The company has a market capitalization of $31.31 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.03 and a beta of 0.80. The stock’s 50 day moving average price is $255.29 and its 200 day moving average price is $260.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.02 and a current ratio of 1.83. Vulcan Materials has a 52 week low of $215.08 and a 52 week high of $298.31.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.76 by $0.41. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the business posted $1.46 EPS. On average, research analysts forecast that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.83%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is currently 28.61%.

Analysts Set New Price Targets

Several brokerages have commented on VMC. Seaport Res Ptn upgraded shares of Vulcan Materials to a “strong-buy” rating in a report on Friday, March 21st. Raymond James lowered their price objective on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus assumed coverage on Vulcan Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $287.00 target price for the company. Citigroup lowered their price target on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Stephens reissued an “overweight” rating and issued a $325.00 price objective on shares of Vulcan Materials in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and an average price target of $302.67.

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.