California Public Employees Retirement System Has $55.39 Million Stock Position in Vulcan Materials (NYSE:VMC)

California Public Employees Retirement System lowered its stake in Vulcan Materials (NYSE:VMC) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 243,998 shares of the construction company’s stock after selling 5,642 shares during the period. California Public Employees Retirement System’s holdings in Vulcan Materials were worth $55,390,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. MCF Advisors LLC lifted its stake in shares of Vulcan Materials by 22.4% in the 4th quarter. MCF Advisors LLC now owns 295 shares of the construction company’s stock valued at $67,000 after purchasing an additional 54 shares during the period. CWM LLC increased its position in shares of Vulcan Materials by 9.4% in the 4th quarter. CWM LLC now owns 2,483 shares of the construction company’s stock valued at $564,000 after buying an additional 214 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Vulcan Materials by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,815 shares of the construction company’s stock valued at $3,363,000 after buying an additional 173 shares in the last quarter. Signaturefd LLC increased its position in shares of Vulcan Materials by 8.6% in the 4th quarter. Signaturefd LLC now owns 1,627 shares of the construction company’s stock valued at $369,000 after buying an additional 129 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its position in shares of Vulcan Materials by 2.6% in the 4th quarter. Verdence Capital Advisors LLC now owns 4,033 shares of the construction company’s stock valued at $916,000 after buying an additional 104 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

NYSE:VMC opened at $258.54 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.39 and a current ratio of 3.17. The stock’s 50-day simple moving average is $264.73 and its 200 day simple moving average is $234.37. The company has a market cap of $34.20 billion, a P/E ratio of 37.04, a P/E/G ratio of 1.86 and a beta of 0.83. Vulcan Materials has a 52-week low of $166.43 and a 52-week high of $276.58.

Vulcan Materials (NYSE:VMC) last released its earnings results on Friday, February 16th. The construction company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.06. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.84 billion. Vulcan Materials had a return on equity of 12.80% and a net margin of 11.99%. Vulcan Materials’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share. As a group, sell-side analysts forecast that Vulcan Materials will post 8.43 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued a dividend of $0.46 per share. The ex-dividend date was Friday, March 1st. This represents a $1.84 dividend on an annualized basis and a yield of 0.71%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.43. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.36%.

Analysts Set New Price Targets

A number of research firms recently commented on VMC. JPMorgan Chase & Co. restated a “neutral” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Morgan Stanley began coverage on shares of Vulcan Materials in a research report on Monday, January 8th. They issued an “equal weight” rating and a $208.00 price objective for the company. The Goldman Sachs Group increased their target price on Vulcan Materials from $264.00 to $292.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Truist Financial increased their target price on Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group increased their target price on Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus price target of $273.00.

Insider Buying and Selling

In related news, SVP Denson N. Franklin III sold 3,200 shares of Vulcan Materials stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total transaction of $862,336.00. Following the completion of the transaction, the senior vice president now owns 5,395 shares in the company, valued at $1,453,844.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Denson N. Franklin III sold 3,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total transaction of $862,336.00. Following the completion of the sale, the senior vice president now owns 5,395 shares in the company, valued at $1,453,844.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Melissa H. Anderson sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $260.48, for a total value of $312,576.00. Following the sale, the director now owns 330 shares of the company’s stock, valued at approximately $85,958.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,017 shares of company stock worth $3,344,741. Company insiders own 0.62% of the company’s stock.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.