BNP Paribas Financial Markets Increases Stock Position in Vulcan Materials Company $VMC

BNP Paribas Financial Markets boosted its stake in shares of Vulcan Materials Company (NYSE:VMC) by 43.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 243,076 shares of the construction company’s stock after acquiring an additional 74,124 shares during the quarter. BNP Paribas Financial Markets’ holdings in Vulcan Materials were worth $69,330,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VMC. Westside Investment Management Inc. boosted its stake in Vulcan Materials by 100.0% during the third 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. NBT Bank N A NY purchased a new position in Vulcan Materials during the fourth quarter worth about $26,000. Greykasell Wealth Strategies Inc. purchased a new position in Vulcan Materials during the third quarter worth about $29,000. Godsey & Gibb Inc. purchased a new position in Vulcan Materials during the fourth quarter worth about $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Vulcan Materials during the third quarter worth about $30,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VMC. Truist Financial increased their target price on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Barclays raised their price objective on shares of Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada raised their price objective on shares of Vulcan Materials from $296.00 to $298.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Oppenheimer began coverage on shares of Vulcan Materials in a research note on Thursday. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 price objective (down from $335.00) on shares of Vulcan Materials in a research note on Wednesday, March 4th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $330.58.

Vulcan Materials Stock Down 0.5%

Shares of Vulcan Materials stock opened at $281.52 on Tuesday. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09. The company has a 50 day moving average of $280.29 and a 200 day moving average of $290.36. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $36.53 billion, a P/E ratio of 33.47, a P/E/G ratio of 2.04 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, research analysts forecast that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be paid a $0.52 dividend. The ex-dividend date is Friday, May 22nd. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials’s payout ratio is currently 24.73%.

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.