Myriad Asset Management Advisors LLC Buys New Position in Vulcan Materials Company $VMC

Myriad Asset Management Advisors LLC bought a new stake in Vulcan Materials Company (NYSE:VMC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,321 shares of the construction company’s stock, valued at approximately $3,229,000. Vulcan Materials accounts for about 1.0% of Myriad Asset Management Advisors LLC’s investment portfolio, making the stock its 28th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Vulcan Materials by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 17,207,183 shares of the construction company’s stock worth $5,293,274,000 after acquiring an additional 311,539 shares during the period. JPMorgan Chase & Co. lifted its position in Vulcan Materials by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,924,285 shares of the construction company’s stock worth $2,437,669,000 after acquiring an additional 99,298 shares during the period. Geode Capital Management LLC lifted its position in Vulcan Materials by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company’s stock worth $1,016,168,000 after acquiring an additional 32,012 shares during the period. Bank of America Corp DE lifted its position in Vulcan Materials by 0.4% during the 3rd quarter. Bank of America Corp DE now owns 2,318,474 shares of the construction company’s stock worth $713,209,000 after acquiring an additional 9,030 shares during the period. Finally, Lone Pine Capital LLC acquired a new stake in Vulcan Materials during the 3rd quarter worth approximately $425,938,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VMC shares. Berenberg Bank set a $283.00 price objective on Vulcan Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. DA Davidson decreased their price objective on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Wells Fargo & Company increased their price objective on Vulcan Materials from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Raymond James Financial set a $325.00 price objective on Vulcan Materials in a research report on Thursday, April 30th. Finally, Barclays increased their price objective on Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Vulcan Materials has an average rating of “Hold” and a consensus target price of $326.92.

Vulcan Materials Stock Performance

Shares of VMC stock opened at $273.86 on Thursday. The company has a market cap of $35.54 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.05. The stock has a 50 day simple moving average of $282.34 and a 200-day simple moving average of $290.10. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51.

Vulcan Materials (NYSE:VMC) last issued its 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. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. On average, equities analysts forecast that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 22nd. Vulcan Materials’s dividend payout ratio is 24.73%.

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.