Assenagon Asset Management S.A. Boosts Stake in Vulcan Materials Company $VMC

Assenagon Asset Management S.A. lifted its position in Vulcan Materials Company (NYSE:VMC) by 993.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 396,628 shares of the construction company’s stock after purchasing an additional 360,368 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.30% of Vulcan Materials worth $113,126,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. increased its holdings in shares of Vulcan Materials by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Greykasell Wealth Strategies Inc. acquired a new stake in Vulcan Materials during the 3rd quarter worth $29,000. Measured Wealth Private Client Group LLC acquired a new stake in Vulcan Materials during the 3rd quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Vulcan Materials during the 3rd quarter worth $42,000. Finally, Bayforest Capital Ltd acquired a new position in Vulcan Materials in the third quarter valued at $46,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $263.85 on Tuesday. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $297.50 and its 200 day simple moving average is $295.60. Vulcan Materials Company has a 52 week low of $218.87 and a 52 week high of $331.09. The firm has a market capitalization of $34.45 billion, a PE ratio of 32.49, a P/E/G ratio of 1.80 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last announced its quarterly 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). The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the company earned $2.17 EPS. On average, equities research analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 9th were given 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 was Monday, March 9th. Vulcan Materials’s dividend payout ratio (DPR) is currently 25.62%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VMC shares. Royal Bank Of Canada decreased their target price on shares of Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 18th. Zacks Research downgraded Vulcan Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 11th. Morgan Stanley lifted 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. DA Davidson dropped their target price on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Finally, Wells Fargo & Company decreased their price target on Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $326.29.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, Director Melissa H. Anderson sold 1,137 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $303.72, for a total value of $345,329.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by 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.