CIBC Asset Management Inc Increases Holdings in Vulcan Materials Company $VMC

CIBC Asset Management Inc boosted its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,889 shares of the construction company’s stock after purchasing an additional 9,275 shares during the period. CIBC Asset Management Inc owned about 0.08% of Vulcan Materials worth $28,815,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its position in Vulcan Materials by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. NBT Bank N A NY bought a new stake in Vulcan Materials during the 4th quarter valued at approximately $26,000. Godsey & Gibb Inc. bought a new stake in Vulcan Materials during the 4th quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC bought a new stake in Vulcan Materials during the 3rd quarter valued at approximately $30,000. Finally, WPG Advisers LLC boosted its position in Vulcan Materials by 56.4% during the 4th quarter. WPG Advisers LLC now owns 122 shares of the construction company’s stock valued at $35,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VMC. Wall Street Zen raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Oppenheimer began coverage on Vulcan Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 price objective (down from $335.00) on shares of Vulcan Materials in a research report on Wednesday, March 4th. Stephens lifted their price objective on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada lifted their price objective on Vulcan Materials from $296.00 to $298.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $326.92.

Vulcan Materials Stock Performance

Shares of VMC opened at $285.85 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $281.20 and its 200-day moving average price is $290.28. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The stock has a market cap of $37.09 billion, a P/E ratio of 33.99, a P/E/G ratio of 2.03 and a beta of 1.05.

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

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, May 22nd. 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.