Vulcan Materials Company $VMC Shares Bought by Bank of America Corp DE

Bank of America Corp DE grew its position in Vulcan Materials Company (NYSE:VMC) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,318,474 shares of the construction company’s stock after purchasing an additional 9,030 shares during the quarter. Bank of America Corp DE owned about 1.75% of Vulcan Materials worth $713,209,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Westside Investment Management Inc. lifted its holdings in shares of Vulcan Materials by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Greykasell Wealth Strategies Inc. purchased a new position in Vulcan Materials during the 3rd quarter worth $29,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Vulcan Materials during the 3rd quarter worth $42,000. Bayforest Capital Ltd acquired a new position in Vulcan Materials during the 3rd quarter valued at about $46,000. Finally, Optiver Holding B.V. acquired a new position in Vulcan Materials during the 3rd quarter valued at about $49,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VMC has been the subject of several recent analyst reports. Royal Bank Of Canada lowered their price target on Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating for the company in a report on Wednesday, February 18th. DA Davidson cut their price objective on shares of Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vulcan Materials in a research report on Tuesday, January 27th. Wells Fargo & Company lowered their target price on shares of 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. Finally, Morgan Stanley boosted their target price on shares of Vulcan Materials from $321.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $326.29.

Vulcan Materials Stock Performance

Shares of VMC opened at $265.84 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. The stock has a 50-day moving average of $301.70 and a two-hundred day moving average of $296.67. The stock has a market cap of $34.71 billion, a P/E ratio of 32.74, a P/E/G ratio of 1.85 and a beta of 1.05. Vulcan Materials Company has a one year low of $218.87 and a one year high of $331.09.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, February 17th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the company posted $2.17 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts predict that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

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

Insiders Place Their Bets

In other Vulcan Materials news, Director Melissa H. Anderson sold 1,137 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $303.72, for a total transaction of $345,329.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Vulcan Materials Company Profile

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.