Parnassus Investments LLC Acquires 11,999 Shares of Vulcan Materials Company $VMC

Parnassus Investments LLC boosted its holdings in Vulcan Materials Company (NYSE:VMC) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,619 shares of the construction company’s stock after acquiring an additional 11,999 shares during the period. Parnassus Investments LLC owned 0.15% of Vulcan Materials worth $57,791,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in VMC. Lone Pine Capital LLC bought a new stake in Vulcan Materials in the 3rd quarter valued at $425,938,000. Norges Bank bought a new stake in Vulcan Materials in the 4th quarter valued at $383,613,000. Egerton Capital UK LLP bought a new stake in Vulcan Materials in the 4th quarter valued at $273,861,000. Assenagon Asset Management S.A. raised its stake in Vulcan Materials by 993.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock valued at $113,126,000 after acquiring an additional 360,368 shares during the period. Finally, Freestone Grove Partners LP bought a new stake in Vulcan Materials in the 3rd quarter valued at $98,911,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Up 2.8%

VMC stock opened at $280.33 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. The stock has a market capitalization of $36.38 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 1.97 and a beta of 1.05. The business’s fifty day moving average price is $282.50 and its two-hundred day moving average price is $290.05. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.25. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 EPS. On average, equities analysts anticipate that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is presently 24.73%.

Analysts Set New Price Targets

VMC has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price target on Vulcan Materials from $296.00 to $298.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Stephens increased their price target on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Oppenheimer initiated coverage on Vulcan Materials in a research note on Thursday, May 28th. They issued a “market perform” rating on the stock. Berenberg Bank set a $283.00 price target on Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Finally, Zacks Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $326.92.

Vulcan Materials 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.