Vulcan Materials (NYSE:VMC) Position Boosted by Huntington National Bank

Huntington National Bank increased its holdings in Vulcan Materials (NYSE:VMC) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,488 shares of the construction company’s stock after purchasing an additional 220 shares during the quarter. Huntington National Bank’s holdings in Vulcan Materials were worth $640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VMC. Vanguard Group Inc. increased its holdings in shares of Vulcan Materials by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,352,507 shares of the construction company’s stock valued at $4,206,355,000 after buying an additional 90,157 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Vulcan Materials by 13.9% during the fourth quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company’s stock worth $1,559,380,000 after purchasing an additional 741,631 shares during the period. State Street Corp raised its position in shares of Vulcan Materials by 1.2% during the third quarter. State Street Corp now owns 5,281,102 shares of the construction company’s stock worth $1,322,546,000 after purchasing an additional 65,163 shares during the period. Geode Capital Management LLC increased its stake in Vulcan Materials by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 3,348,418 shares of the construction company’s stock worth $859,171,000 after purchasing an additional 36,833 shares in the last quarter. Finally, Norges Bank purchased a new position in Vulcan Materials in the 4th quarter worth about $380,369,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

Shares of VMC opened at $230.98 on Friday. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $298.31. The company’s fifty day moving average is $250.05 and its 200-day moving average is $260.40. The firm has a market cap of $30.55 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.41. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the company posted $1.46 EPS. Equities analysts expect that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a $0.49 dividend. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, March 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.85%. Vulcan Materials’s dividend payout ratio (DPR) is currently 28.61%.

Analysts Set New Price Targets

VMC has been the subject of a number of analyst reports. Stephens reaffirmed an “overweight” rating and set a $325.00 price objective on shares of Vulcan Materials in a research note on Thursday, January 2nd. Morgan Stanley lifted their price objective on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Citigroup restated a “buy” rating on shares of Vulcan Materials in a report on Monday, March 24th. Loop Capital lowered their price target on Vulcan Materials from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada increased their price objective on Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $305.58.

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.