MAI Capital Management increased its stake in Vulcan Materials (NYSE:VMC – Get Rating) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,598 shares of the construction company's stock after buying an additional 78 shares during the period. MAI Capital Management's holdings in Vulcan Materials were worth $4,916,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Key Financial Inc bought a new stake in shares of Vulcan Materials in the 1st quarter worth $26,000. Achmea Investment Management B.V. bought a new stake in Vulcan Materials in the 1st quarter worth about $29,000. Bank of New Hampshire bought a new position in Vulcan Materials during the 1st quarter valued at about $38,000. Allworth Financial LP boosted its holdings in shares of Vulcan Materials by 84.9% during the 1st quarter. Allworth Financial LP now owns 257 shares of the construction company's stock valued at $47,000 after acquiring an additional 118 shares during the last quarter. Finally, Standard Family Office LLC bought a new stake in shares of Vulcan Materials in the first quarter worth approximately $48,000. 90.25% of the stock is currently owned by institutional investors.
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Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Morgan Stanley lowered their target price on Vulcan Materials from $203.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. The Goldman Sachs Group cut their target price on shares of Vulcan Materials from $215.00 to $189.00 and set a "neutral" rating for the company in a research report on Thursday, June 23rd. Wolfe Research decreased their price target on shares of Vulcan Materials from $211.00 to $194.00 and set an "outperform" rating on the stock in a research report on Thursday, July 14th. Raymond James raised shares of Vulcan Materials from a "market perform" rating to an "outperform" rating in a research report on Friday, August 19th. Finally, JPMorgan Chase & Co. raised their target price on Vulcan Materials from $170.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, September 22nd. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $209.19.
Vulcan Materials Trading Down 1.0 %
Vulcan Materials stock opened at $152.34 on Wednesday. Vulcan Materials has a 1 year low of $137.54 and a 1 year high of $213.65. The firm's 50 day moving average price is $166.44 and its 200-day moving average price is $165.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.85 and a quick ratio of 1.34. The stock has a market cap of $20.25 billion, a P/E ratio of 34.31, a PEG ratio of 1.98 and a beta of 0.79.
Vulcan Materials Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Wednesday, August 17th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.05%. Vulcan Materials's dividend payout ratio is currently 36.04%.
Vulcan Materials Company Profile
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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 Aggregates segment 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.
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