Brown Brothers Harriman & Co. Purchases 7,251 Shares of Vulcan Materials Company $VMC

Brown Brothers Harriman & Co. lifted its position in shares of Vulcan Materials Company (NYSE:VMC) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,829 shares of the construction company’s stock after purchasing an additional 7,251 shares during the quarter. Brown Brothers Harriman & Co. owned 0.15% of Vulcan Materials worth $62,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. raised its stake in Vulcan Materials by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after buying an additional 42 shares during the period. Greykasell Wealth Strategies Inc. acquired a new position in Vulcan Materials in the third quarter valued at about $29,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Vulcan Materials in the third quarter valued at about $42,000. Bayforest Capital Ltd bought a new stake in shares of Vulcan Materials in the third quarter worth about $46,000. Finally, Optiver Holding B.V. bought a new stake in shares of Vulcan Materials in the third quarter worth about $49,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $265.50 on Friday. The firm has a market cap of $34.67 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. The business’s 50 day moving average is $302.31 and its 200-day moving average is $296.77. The company has a current ratio of 2.69, a quick ratio of 1.97 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a 1-year low of $218.87 and a 1-year high of $331.09.

Vulcan Materials (NYSE:VMC) last released 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). Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the company posted $2.17 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be paid a $0.52 dividend. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 9th. Vulcan Materials’s payout ratio is currently 25.62%.

Analyst Upgrades and Downgrades

VMC has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 price objective (down from $335.00) on shares of Vulcan Materials in a report on Wednesday, March 4th. Wells Fargo & Company lowered their target price on Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. B. Riley Financial assumed coverage on shares of Vulcan Materials in a research note on Thursday, January 15th. They issued a “buy” rating and a $345.00 price target on the stock. Truist Financial upped their price target on shares of Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, Morgan Stanley boosted their target price on Vulcan Materials from $321.00 to $322.00 and gave the company an “equal weight” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.62% of the stock is currently owned by corporate 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.