BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Holdings in Vulcan Materials (NYSE:VMC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Vulcan Materials (NYSE:VMC) by 14.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,109 shares of the construction company’s stock after selling 20,605 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.09% of Vulcan Materials worth $31,153,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VMC. DAVENPORT & Co LLC increased its stake in Vulcan Materials by 149.4% during the fourth quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock worth $2,416,000 after purchasing an additional 5,627 shares during the period. Smith Group Asset Management LLC acquired a new position in shares of Vulcan Materials in the fourth quarter valued at approximately $514,000. SYM FINANCIAL Corp purchased a new stake in Vulcan Materials during the 4th quarter worth approximately $249,000. SG Americas Securities LLC lifted its holdings in Vulcan Materials by 64.9% during the 4th quarter. SG Americas Securities LLC now owns 7,910 shares of the construction company’s stock worth $2,035,000 after buying an additional 3,113 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Vulcan Materials by 42.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,599 shares of the construction company’s stock valued at $926,000 after buying an additional 1,081 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VMC shares. Morgan Stanley upped their price objective on Vulcan Materials from $273.00 to $303.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Raymond James cut their price target on Vulcan Materials from $300.00 to $295.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded Vulcan Materials from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $290.00 to $285.00 in a research note on Wednesday, March 19th. Seaport Res Ptn raised Vulcan Materials to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Citigroup reaffirmed a “buy” rating on shares of Vulcan Materials in a report on Monday, March 24th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $302.91.

Insider Activity

In related news, SVP David P. Clement sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $270.00, for a total transaction of $405,000.00. Following the transaction, the senior vice president now owns 2,832 shares in the company, valued at $764,640. This trade represents a 34.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.62% of the company’s stock.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $270.61 on Thursday. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 52 week low of $215.08 and a 52 week high of $298.31. The firm’s 50 day moving average is $248.43 and its two-hundred day moving average is $260.60. The firm has a market capitalization of $35.75 billion, a P/E ratio of 39.51, a P/E/G ratio of 2.03 and a beta of 0.84.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, April 30th. The construction company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.20. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm posted $0.80 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Research analysts forecast that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, May 23rd. Vulcan Materials’s dividend payout ratio (DPR) is currently 27.80%.

Vulcan Materials Company 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.