Vulcan Materials Company $VMC Shares Bought by Korea Investment CORP

Korea Investment CORP grew its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 36.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 80,941 shares of the construction company’s stock after purchasing an additional 21,595 shares during the period. Korea Investment CORP’s holdings in Vulcan Materials were worth $24,899,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. raised its holdings in shares of Vulcan Materials by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in Vulcan Materials during the third quarter worth approximately $29,000. Atlantic Union Bankshares Corp bought a new stake in Vulcan Materials during the second quarter worth approximately $32,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Vulcan Materials in the third quarter worth approximately $42,000. Finally, Bayforest Capital Ltd acquired a new position in Vulcan Materials in the third quarter worth approximately $46,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Trading Down 0.9%

Vulcan Materials stock opened at $271.90 on Wednesday. Vulcan Materials Company has a 52 week low of $218.83 and a 52 week high of $331.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. The firm has a market capitalization of $35.50 billion, a price-to-earnings ratio of 33.48, a P/E/G ratio of 2.03 and a beta of 1.05. The company has a 50 day moving average price of $303.66 and a 200 day moving average price of $297.39.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.41). The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. Vulcan Materials’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $2.17 earnings per share. Research analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a yield of 0.8%. Vulcan Materials’s payout ratio is presently 25.62%.

Analyst Upgrades and Downgrades

VMC has been the subject of a number of recent research reports. DA Davidson cut their price objective on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Royal Bank Of Canada decreased their target price on Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 18th. B. Riley Financial initiated coverage on Vulcan Materials in a report on Thursday, January 15th. They set a “buy” rating and a $345.00 target price for the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 price target (down from $335.00) on shares of Vulcan Materials in a research report on Wednesday, March 4th. Finally, Citigroup lifted their price target on Vulcan Materials from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, Director Melissa H. Anderson sold 1,137 shares of Vulcan Materials stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Thompson S. Baker II sold 7,135 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $300.81, for a total value of $2,146,279.35. The SEC filing for this sale provides additional information. 0.61% of the stock is currently owned by insiders.

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.