ING Groep NV Trims Holdings in Vulcan Materials (NYSE:VMC)

ING Groep NV lessened its holdings in shares of Vulcan Materials (NYSE:VMC) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,867 shares of the construction company’s stock after selling 795 shares during the period. ING Groep NV’s holdings in Vulcan Materials were worth $14,371,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of VMC. Principal Financial Group Inc. increased its holdings in Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after purchasing an additional 884,580 shares during the period. Ceredex Value Advisors LLC increased its holdings in Vulcan Materials by 136.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock valued at $89,117,000 after purchasing an additional 205,260 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Vulcan Materials by 32.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company’s stock valued at $184,353,000 after purchasing an additional 178,634 shares during the period. Artemis Investment Management LLP increased its holdings in Vulcan Materials by 67.9% during the 4th quarter. Artemis Investment Management LLP now owns 402,106 shares of the construction company’s stock valued at $103,434,000 after purchasing an additional 162,567 shares during the period. Finally, Stockbridge Partners LLC increased its holdings in Vulcan Materials by 9.6% during the 3rd quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company’s stock valued at $392,815,000 after purchasing an additional 137,365 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

VMC has been the topic of a number of research analyst reports. Citigroup reduced their target price on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays upped their target price on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Truist Financial upped their target price on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group initiated coverage on Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $305.00.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $258.64 on Friday. 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 market capitalization of $34.16 billion, a P/E ratio of 37.76, a PEG ratio of 2.05 and a beta of 0.84. The stock’s 50 day moving average is $267.05 and its 200 day moving average is $261.46. Vulcan Materials has a twelve month low of $225.36 and a twelve month high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.41. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. During the same period in the prior year, the firm posted $1.46 EPS. On average, equities research analysts predict that Vulcan Materials will post 8.8 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. Investors of record on Monday, March 10th will be given a $0.49 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.76%. Vulcan Materials’s dividend payout ratio is 26.86%.

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.