Gardner Russo & Quinn LLC Cuts Holdings in Vulcan Materials (NYSE:VMC)

Gardner Russo & Quinn LLC lowered its stake in Vulcan Materials (NYSE:VMC) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,176 shares of the construction company’s stock after selling 2,305 shares during the period. Vulcan Materials comprises 0.1% of Gardner Russo & Quinn LLC’s investment portfolio, making the stock its 25th biggest position. Gardner Russo & Quinn LLC’s holdings in Vulcan Materials were worth $5,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in VMC. Norges Bank purchased a new position in Vulcan Materials in the fourth quarter valued at $380,369,000. Principal Financial Group Inc. increased its holdings in shares of Vulcan Materials by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after acquiring an additional 884,580 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Vulcan Materials by 28,529.4% during the 4th quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company’s stock worth $134,694,000 after acquiring an additional 521,802 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Vulcan Materials during the 4th quarter worth about $74,760,000. Finally, HighTower Advisors LLC lifted its stake in Vulcan Materials by 125.0% during the fourth quarter. HighTower Advisors LLC now owns 335,984 shares of the construction company’s stock worth $86,425,000 after purchasing an additional 186,641 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $232.90 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. The company has a market cap of $30.77 billion, a PE ratio of 34.00, a P/E/G ratio of 2.03 and a beta of 0.80. The stock has a fifty day moving average price of $253.92 and a 200 day moving average price of $260.41. Vulcan Materials has a 1-year low of $215.08 and a 1-year high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.41. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same quarter in the previous year, the firm earned $1.46 earnings per share. Sell-side analysts forecast that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.84%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, March 10th. Vulcan Materials’s dividend payout ratio is 28.61%.

Wall Street Analysts Forecast Growth

VMC has been the topic of a number of research analyst reports. Stifel Nicolaus began coverage on shares of Vulcan Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $287.00 price objective on the stock. Morgan Stanley boosted their price target on shares of Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Raymond James dropped their price objective on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. Royal Bank of Canada boosted their target price on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upgraded Vulcan Materials from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $290.00 to $285.00 in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $302.67.

Vulcan Materials 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.