Fifth Third Bancorp Grows Stock Holdings in Vulcan Materials Company $VMC

Fifth Third Bancorp boosted its stake in shares of Vulcan Materials Company (NYSE:VMC) by 513.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,482 shares of the construction company’s stock after purchasing an additional 22,166 shares during the period. Fifth Third Bancorp’s holdings in Vulcan Materials were worth $7,211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VMC. Norges Bank purchased a new stake in Vulcan Materials during the 4th quarter valued at $383,613,000. Egerton Capital UK LLP purchased a new position in shares of Vulcan Materials in the 4th quarter worth $273,861,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Vulcan Materials by 121.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 717,409 shares of the construction company’s stock worth $204,619,000 after buying an additional 393,339 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Vulcan Materials by 993.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock worth $113,126,000 after acquiring an additional 360,368 shares during the period. Finally, Freestone Grove Partners LP bought a new stake in shares of Vulcan Materials in the third quarter worth $98,911,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on VMC. UBS Group dropped their target price on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Wells Fargo & Company reduced their price target on shares of Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Berenberg Bank set a $283.00 price objective on shares of Vulcan Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Oppenheimer started coverage on shares of Vulcan Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley cut their target price on shares of Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus price target of $327.79.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the sale, the senior vice president owned 8,716 shares in the company, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Vulcan Materials Price Performance

NYSE VMC opened at $293.46 on Friday. The company has a market capitalization of $38.08 billion, a PE ratio of 34.89, a price-to-earnings-growth ratio of 2.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. The business’s fifty day moving average is $286.47 and its 200 day moving average is $290.98. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09.

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 business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts predict that Vulcan Materials Company will post 9.27 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s dividend 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.