State of Michigan Retirement System Has $9.23 Million Position in Vulcan Materials (NYSE:VMC)

State of Michigan Retirement System lowered its stake in shares of Vulcan Materials (NYSE:VMC) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,876 shares of the construction company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Vulcan Materials were worth $9,228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VMC. Ashton Thomas Securities LLC acquired a new stake in shares of Vulcan Materials in the third quarter worth $30,000. SBI Securities Co. Ltd. bought a new stake in Vulcan Materials during the fourth quarter valued at about $31,000. Washington Trust Advisors Inc. grew its position in shares of Vulcan Materials by 240.4% in the third quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock valued at $40,000 after purchasing an additional 113 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Vulcan Materials in the third quarter worth about $42,000. Finally, UMB Bank n.a. boosted its stake in Vulcan Materials by 138.5% during the 4th quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock valued at $48,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Trading Up 2.4 %

VMC opened at $240.49 on Thursday. Vulcan Materials has a 1-year low of $225.36 and a 1-year high of $298.31. The stock has a market capitalization of $31.77 billion, a PE ratio of 35.11, a PEG ratio of 2.03 and a beta of 0.80. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $262.78 and a two-hundred day moving average price of $261.57.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data 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. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. During the same quarter in the prior year, the business earned $1.46 EPS. As a group, equities analysts anticipate that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 0.82%. Vulcan Materials’s dividend payout ratio is presently 28.61%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VMC shares. Stephens reiterated an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a report on Thursday, January 2nd. Morgan Stanley raised their price target on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. upped their price objective on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Raymond James reduced their target price on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a research note on Thursday, January 16th. Finally, UBS Group started coverage on Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.