Synovus Financial Corp Has $4.66 Million Stake in Vulcan Materials (NYSE:VMC)

Synovus Financial Corp cut its stake in Vulcan Materials (NYSE:VMC) by 16.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,115 shares of the construction company’s stock after selling 3,504 shares during the period. Synovus Financial Corp’s holdings in Vulcan Materials were worth $4,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Vulcan Materials during the fourth quarter worth about $380,369,000. Principal Financial Group Inc. lifted its stake in 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 in the last quarter. Proficio Capital Partners LLC boosted its position in 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 during the last quarter. Raymond James Financial Inc. bought a new position in shares of Vulcan Materials during the 4th quarter worth approximately $74,760,000. Finally, HighTower Advisors LLC grew its stake in shares of Vulcan Materials by 125.0% during the 4th quarter. HighTower Advisors LLC now owns 335,984 shares of the construction company’s stock worth $86,425,000 after acquiring an additional 186,641 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VMC shares. Stephens reissued an “overweight” rating and issued a $325.00 price objective on shares of Vulcan Materials in a research report on Thursday, January 2nd. Raymond James reduced their price objective on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a research note on Thursday, January 16th. Citigroup reaffirmed a “buy” rating on shares of Vulcan Materials in a research report on Monday, March 24th. Loop Capital reduced their price target on Vulcan Materials from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Finally, UBS Group lowered Vulcan Materials from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $343.00 to $258.00 in a research report on Monday, April 7th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $298.00.

Vulcan Materials Trading Up 2.8 %

VMC stock opened at $242.29 on Monday. Vulcan Materials has a one year low of $215.08 and a one year high of $298.31. The stock has a market cap of $32.05 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80. The company has a fifty day moving average price of $244.44 and a two-hundred day moving average price of $259.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.76 by $0.41. The business had revenue of $1.85 billion during 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 posted $1.46 EPS. Equities analysts anticipate that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The company also recently announced 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 an increase from Vulcan Materials’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.96 annualized dividend and a dividend yield of 0.81%. Vulcan Materials’s dividend payout ratio is presently 28.61%.

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.