Norges Bank Acquires Shares of 1,478,711 Vulcan Materials (NYSE:VMC)

Norges Bank bought a new position in Vulcan Materials (NYSE:VMC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,478,711 shares of the construction company’s stock, valued at approximately $380,369,000. Norges Bank owned about 1.12% of Vulcan Materials as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Vulcan Materials by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,352,507 shares of the construction company’s stock valued at $4,206,355,000 after acquiring an additional 90,157 shares during the period. Principal Financial Group Inc. grew its holdings in Vulcan Materials by 13.9% during the fourth quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company’s stock valued at $1,559,380,000 after purchasing an additional 741,631 shares during the period. State Street Corp increased its position in Vulcan Materials by 1.2% in the third quarter. State Street Corp now owns 5,281,102 shares of the construction company’s stock worth $1,322,546,000 after buying an additional 65,163 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Vulcan Materials by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company’s stock valued at $826,644,000 after buying an additional 33,061 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Vulcan Materials by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 877,701 shares of the construction company’s stock valued at $225,771,000 after buying an additional 13,227 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Down 2.0 %

VMC stock opened at $232.90 on Friday. The company’s 50 day moving average is $253.92 and its 200 day moving average is $260.61. The stock has a market cap of $30.81 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80. 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 has a 1-year low of $215.08 and a 1-year high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.41. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. Sell-side analysts predict that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.96 annualized dividend and a yield of 0.84%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is 28.61%.

Analysts Set New Price Targets

Several research firms have commented on VMC. Citigroup dropped their price objective on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Stephens reaffirmed an “overweight” rating and issued a $325.00 price objective on shares of Vulcan Materials in a report on Thursday, January 2nd. Seaport Res Ptn upgraded shares of Vulcan Materials to a “strong-buy” rating in a research note on Friday, March 21st. Morgan Stanley increased their target price on Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus started coverage on Vulcan Materials in a research report on Tuesday, March 4th. They issued a “buy” rating and a $287.00 price target for the company. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and an average price target of $302.67.

About Vulcan Materials

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.