Allstate Corp Purchases 4,919 Shares of Vulcan Materials Company $VMC

Allstate Corp lifted its position in shares of Vulcan Materials Company (NYSE:VMC) by 92.7% during the fourth quarter, HoldingsChannel reports. The firm owned 10,227 shares of the construction company’s stock after buying an additional 4,919 shares during the quarter. Allstate Corp’s holdings in Vulcan Materials were worth $2,917,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VMC. Principal Financial Group Inc. lifted its position in 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 acquiring an additional 414,828 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Vulcan Materials by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,293,316 shares of the construction company’s stock valued at $397,795,000 after acquiring an additional 3,931 shares in the last quarter. EFG Asset Management North America Corp. bought a new stake in Vulcan Materials in the 3rd quarter valued at $1,232,000. Swiss Life Asset Management Ltd lifted its position in Vulcan Materials by 67.8% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 14,320 shares of the construction company’s stock valued at $4,405,000 after acquiring an additional 5,787 shares in the last quarter. Finally, ING Groep NV lifted its position in Vulcan Materials by 67.3% in the 3rd quarter. ING Groep NV now owns 29,081 shares of the construction company’s stock valued at $8,946,000 after acquiring an additional 11,699 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on VMC. Truist Financial boosted their price objective on shares of Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Raymond James Financial set a $325.00 price target on shares of Vulcan Materials in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley lowered their price target on shares of Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Finally, DA Davidson lowered their price target on shares of Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average price target of $330.58.

Vulcan Materials Stock Up 2.6%

Shares of VMC stock opened at $275.96 on Thursday. 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 Company has a 1 year low of $252.35 and a 1 year high of $331.09. The firm’s fifty day moving average price is $279.04 and its two-hundred day moving average price is $290.59. The firm has a market capitalization of $35.81 billion, a P/E ratio of 32.81, a PEG ratio of 1.95 and a beta of 1.09.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.25. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. On average, equities analysts predict that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, May 22nd. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. Vulcan Materials’s payout ratio is currently 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.