Choate Investment Advisors Boosts Stock Position in Vulcan Materials Company $VMC

Choate Investment Advisors increased its stake in Vulcan Materials Company (NYSE:VMC) by 166.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,744 shares of the construction company’s stock after buying an additional 17,947 shares during the period. Choate Investment Advisors’ holdings in Vulcan Materials were worth $8,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Chesapeake Capital Corp IL grew its stake in shares of Vulcan Materials by 0.9% in the 4th quarter. Chesapeake Capital Corp IL now owns 3,712 shares of the construction company’s stock worth $1,059,000 after buying an additional 33 shares during the last quarter. Composition Wealth LLC grew its stake in shares of Vulcan Materials by 3.5% in the 4th quarter. Composition Wealth LLC now owns 1,014 shares of the construction company’s stock worth $289,000 after buying an additional 34 shares during the last quarter. Capital Investment Advisors LLC grew its stake in shares of Vulcan Materials by 5.5% in the 4th quarter. Capital Investment Advisors LLC now owns 723 shares of the construction company’s stock worth $206,000 after buying an additional 38 shares during the last quarter. Truist Financial Corp grew its stake in shares of Vulcan Materials by 0.3% in the 4th quarter. Truist Financial Corp now owns 13,331 shares of the construction company’s stock worth $3,802,000 after buying an additional 38 shares during the last quarter. Finally, United Capital Financial Advisors LLC grew its stake in shares of Vulcan Materials by 1.2% in the 3rd quarter. United Capital Financial Advisors LLC now owns 3,095 shares of the construction company’s stock worth $952,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on VMC shares. Truist Financial upped their price objective on Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Stephens upped their price objective on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. DA Davidson lowered their price objective on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Morgan Stanley lowered their price objective on Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Finally, Royal Bank Of Canada upped their price objective on Vulcan Materials from $296.00 to $298.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.58.

Vulcan Materials Stock Performance

VMC stock opened at $260.78 on Monday. The stock has a market capitalization of $33.84 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.89 and a beta of 1.09. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $278.81 and its 200 day simple moving average is $290.98.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) 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 analysts’ expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. As a group, research analysts forecast that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, May 22nd. Vulcan Materials’s dividend payout ratio 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.