California Public Employees Retirement System Purchases 13,563 Shares of Vulcan Materials Company $VMC

California Public Employees Retirement System increased its position in shares of Vulcan Materials Company (NYSE:VMC) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 236,371 shares of the construction company’s stock after acquiring an additional 13,563 shares during the period. California Public Employees Retirement System owned about 0.18% of Vulcan Materials worth $72,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in VMC. Principal Financial Group Inc. increased its stake in shares of Vulcan Materials by 5.8% in the 3rd quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company’s stock valued at $2,345,703,000 after purchasing an additional 414,828 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Vulcan Materials by 12.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,824,987 shares of the construction company’s stock worth $2,040,914,000 after buying an additional 857,210 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Vulcan Materials by 104.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 72,113 shares of the construction company’s stock worth $22,183,000 after buying an additional 36,823 shares during the last quarter. American Century Companies Inc. boosted its stake in Vulcan Materials by 19.3% in the second quarter. American Century Companies Inc. now owns 256,789 shares of the construction company’s stock valued at $66,976,000 after buying an additional 41,504 shares in the last quarter. Finally, EFG Asset Management North America Corp. acquired a new stake in Vulcan Materials in the third quarter valued at about $1,232,000. 90.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on VMC shares. DA Davidson lowered their target price on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Truist Financial raised their price target on shares of Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vulcan Materials in a report on Tuesday, January 27th. Wall Street Zen cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Finally, Royal Bank Of Canada dropped their price objective on shares of Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $326.29.

Insider Buying and Selling

In related news, Director Melissa H. Anderson sold 1,137 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $303.72, for a total value of $345,329.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by insiders.

Vulcan Materials Stock Up 0.2%

Shares of NYSE:VMC opened at $265.84 on Tuesday. The firm has a market cap of $34.71 billion, a P/E ratio of 32.74, a P/E/G ratio of 1.85 and a beta of 1.05. Vulcan Materials Company has a 12-month low of $218.87 and a 12-month high of $331.09. The business has a fifty day simple moving average of $301.70 and a 200 day simple moving average of $296.67. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.51.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 17th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.41). Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the firm posted $2.17 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be paid a $0.52 dividend. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 9th. Vulcan Materials’s payout ratio is presently 25.62%.

Vulcan Materials Profile

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.