CIBC Asset Management Inc Acquires 9,275 Shares of Vulcan Materials Company $VMC

CIBC Asset Management Inc boosted its holdings in Vulcan Materials Company (NYSE:VMC) by 10.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 100,889 shares of the construction company’s stock after buying an additional 9,275 shares during the period. CIBC Asset Management Inc’s holdings in Vulcan Materials were worth $28,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VMC. Brighton Jones LLC bought a new position in Vulcan Materials in the 4th quarter valued at approximately $497,000. NewEdge Advisors LLC lifted its position in Vulcan Materials by 3.9% in the 1st quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company’s stock valued at $1,017,000 after acquiring an additional 163 shares in the last quarter. Empowered Funds LLC lifted its position in Vulcan Materials by 6.3% in the 1st quarter. Empowered Funds LLC now owns 3,195 shares of the construction company’s stock valued at $745,000 after acquiring an additional 190 shares in the last quarter. Focus Partners Wealth lifted its position in Vulcan Materials by 28.5% in the 1st quarter. Focus Partners Wealth now owns 3,321 shares of the construction company’s stock valued at $775,000 after acquiring an additional 736 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Vulcan Materials by 31.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company’s stock valued at $78,000 after acquiring an additional 80 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Price Performance

Shares of VMC opened at $285.85 on Thursday. The firm has a market cap of $37.09 billion, a PE ratio of 33.99, a P/E/G ratio of 2.03 and a beta of 1.05. 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 firm has a fifty day simple moving average of $281.20 and a two-hundred day simple moving average of $290.28. Vulcan Materials Company has a 1-year low of $252.35 and a 1-year high of $331.09.

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

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, May 22nd. Vulcan Materials’s dividend payout ratio is 24.73%.

Wall Street Analysts Forecast Growth

VMC has been the topic of several analyst reports. Zacks Research raised Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. Barclays boosted their target price on shares of Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Berenberg Bank set a $283.00 target price on shares of Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday. Truist Financial boosted their target price on shares of Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, Stifel Nicolaus set a $333.00 target price on shares of Vulcan Materials in a research note on Thursday, April 30th. Seven investment 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, Vulcan Materials currently has an average rating of “Hold” and an average price target of $326.92.

About Vulcan Materials

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.