BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Position in Vulcan Materials (NYSE:VMC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Vulcan Materials (NYSE:VMC) by 99.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,902 shares of the construction company’s stock after purchasing an additional 61,724 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.09% of Vulcan Materials worth $30,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Vulcan Materials by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after buying an additional 755,991 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Vulcan Materials by 1.9% during the first quarter. Principal Financial Group Inc. now owns 4,494,455 shares of the construction company’s stock valued at $1,226,627,000 after buying an additional 83,601 shares during the period. Capital World Investors purchased a new position in shares of Vulcan Materials during the first quarter valued at approximately $388,027,000. Dimensional Fund Advisors LP increased its stake in shares of Vulcan Materials by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock valued at $331,404,000 after buying an additional 43,294 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Vulcan Materials by 271.0% in the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock worth $186,861,000 after purchasing an additional 601,268 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Up 0.1 %

Shares of NYSE:VMC opened at $252.19 on Tuesday. The company has a market cap of $33.35 billion, a P/E ratio of 36.82, a PEG ratio of 2.25 and a beta of 0.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $278.79. The stock’s fifty day moving average price is $248.35 and its 200-day moving average price is $255.35.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $2.29 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. Sell-side analysts expect that Vulcan Materials will post 7.73 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 15th. Vulcan Materials’s dividend payout ratio is 26.86%.

Wall Street Analyst Weigh In

VMC has been the topic of several recent research reports. Citigroup reduced their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Loop Capital cut their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial cut their target price on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada cut their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Stephens cut their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $274.73.

About Vulcan Materials

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.