Vulcan Materials (NYSE:VMC) Stake Increased by Skye Global Management LP

Skye Global Management LP increased its holdings in shares of Vulcan Materials (NYSE:VMC) by 174.4% during the fourth quarter, HoldingsChannel reports. The fund owned 428,000 shares of the construction company’s stock after buying an additional 272,000 shares during the period. Vulcan Materials comprises approximately 2.3% of Skye Global Management LP’s investment portfolio, making the stock its 8th biggest holding. Skye Global Management LP’s holdings in Vulcan Materials were worth $110,094,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Vulcan Materials in the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new position in Vulcan Materials during the fourth quarter worth about $31,000. Generali Asset Management SPA SGR acquired a new position in Vulcan Materials during the fourth quarter worth $32,000. Kapitalo Investimentos Ltda acquired a new stake in Vulcan Materials in the 4th quarter valued at about $35,000. Finally, UMB Bank n.a. raised its position in shares of Vulcan Materials by 138.5% during the 4th quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock worth $48,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VMC shares. Raymond James cut their price objective on shares of Vulcan Materials from $300.00 to $295.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Royal Bank of Canada boosted their price objective on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 19th. Seaport Res Ptn upgraded shares of Vulcan Materials to a “strong-buy” rating in a report on Friday, March 21st. Argus upgraded Vulcan Materials to a “strong-buy” rating in a report on Thursday, April 24th. Finally, Wolfe Research raised Vulcan Materials from a “peer perform” rating to an “outperform” rating in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $297.45.

Vulcan Materials Stock Up 1.7%

VMC stock opened at $270.93 on Friday. The firm has a 50 day simple moving average of $244.71 and a 200-day simple moving average of $260.50. The company has a market capitalization of $35.79 billion, a P/E ratio of 39.55, a PEG ratio of 2.03 and a beta of 0.84. Vulcan Materials has a twelve month low of $215.08 and a twelve month high of $298.31. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.80 by $0.20. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business posted $0.80 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts predict that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, May 23rd. Vulcan Materials’s dividend payout ratio is presently 27.80%.

Vulcan Materials Company 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.