Korea Investment CORP Buys 43,004 Shares of Vulcan Materials (NYSE:VMC)

Korea Investment CORP raised its position in shares of Vulcan Materials (NYSE:VMC) by 77.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,750 shares of the construction company’s stock after purchasing an additional 43,004 shares during the period. Korea Investment CORP’s holdings in Vulcan Materials were worth $25,401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Virtu Financial LLC bought a new stake in Vulcan Materials in the 3rd quarter valued at about $811,000. DAVENPORT & Co LLC raised its position 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 valued at $2,416,000 after purchasing 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 valued at approximately $514,000. Campbell Newman Asset Management Inc. purchased a new stake in shares of Vulcan Materials during the 4th quarter valued at approximately $15,719,000. Finally, Franklin Resources Inc. boosted its holdings in Vulcan Materials by 284.9% in 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 hedge funds and other institutional investors.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $232.90 on Friday. Vulcan Materials has a fifty-two week low of $215.08 and a fifty-two week high of $298.31. The firm’s fifty day moving average price is $253.92 and its 200-day moving average price is $260.41. The stock has a market cap of $30.77 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80. 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 (NYSE:VMC) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. On average, equities research analysts expect that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 0.84%. Vulcan Materials’s dividend payout ratio (DPR) is 28.61%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VMC shares. Raymond James lowered their target price on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. Citigroup dropped their price objective on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Seaport Res Ptn upgraded Vulcan Materials to a “strong-buy” rating in a research note on Friday, March 21st. Royal Bank of Canada upped their price target on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 19th. Finally, Stephens restated an “overweight” rating and issued a $325.00 price objective on shares of Vulcan Materials in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus 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.