Parnassus Investments LLC Buys 11,999 Shares of Vulcan Materials Company $VMC

Parnassus Investments LLC increased its stake in Vulcan Materials Company (NYSE:VMC) by 6.3% during the fourth quarter, Holdings Channel reports. The firm owned 202,619 shares of the construction company’s stock after acquiring an additional 11,999 shares during the period. Parnassus Investments LLC’s holdings in Vulcan Materials were worth $57,791,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. NBT Bank N A NY bought a new position in shares of Vulcan Materials in the fourth quarter worth $26,000. Godsey & Gibb Inc. bought a new position in shares of Vulcan Materials in the fourth quarter worth $30,000. Measured Wealth Private Client Group LLC bought a new position in shares of Vulcan Materials in the third quarter worth $30,000. WPG Advisers LLC increased its position in shares of Vulcan Materials by 56.4% in the fourth quarter. WPG Advisers LLC now owns 122 shares of the construction company’s stock worth $35,000 after purchasing an additional 44 shares during the period. Finally, Concord Wealth Partners bought a new position in shares of Vulcan Materials in the fourth quarter worth $36,000. Institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on VMC shares. Oppenheimer started coverage on Vulcan Materials in a research report on Thursday, May 28th. They issued a “market perform” rating on the stock. Wells Fargo & Company raised their price objective on Vulcan Materials from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Berenberg Bank set a $283.00 price objective on Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Wall Street Zen raised Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Raymond James Financial set a $325.00 price objective on Vulcan Materials in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $326.92.

Vulcan Materials Stock Performance

NYSE:VMC opened at $280.33 on Friday. The stock’s 50-day simple moving average is $282.50 and its 200 day simple moving average is $290.05. The firm has a market capitalization of $36.38 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.25. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.Vulcan Materials’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share. On average, analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 22nd. Vulcan Materials’s dividend payout ratio (DPR) is presently 24.73%.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.