M&T Bank Corp Grows Stake in Vulcan Materials (NYSE:VMC)

M&T Bank Corp grew its position in shares of Vulcan Materials (NYSE:VMC) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,383 shares of the construction company’s stock after purchasing an additional 140 shares during the period. M&T Bank Corp’s holdings in Vulcan Materials were worth $3,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Vulcan Materials by 2.4% during the fourth quarter. Brighton Jones LLC now owns 1,916 shares of the construction company’s stock valued at $435,000 after acquiring an additional 45 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Vulcan Materials by 1.6% in the third quarter. Stratos Wealth Partners LTD. now owns 3,248 shares of the construction company’s stock worth $656,000 after buying an additional 51 shares in the last quarter. Greenleaf Trust grew its holdings in Vulcan Materials by 2.7% in the third quarter. Greenleaf Trust now owns 2,008 shares of the construction company’s stock worth $406,000 after purchasing an additional 52 shares during the period. Stonegate Investment Group LLC grew its holdings in Vulcan Materials by 0.3% in the fourth quarter. Stonegate Investment Group LLC now owns 20,255 shares of the construction company’s stock worth $4,598,000 after purchasing an additional 52 shares during the period. Finally, Signaturefd LLC grew its holdings in Vulcan Materials by 3.7% in the third quarter. Signaturefd LLC now owns 1,498 shares of the construction company’s stock worth $303,000 after purchasing an additional 54 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Vulcan Materials

In related news, VP Randy L. Pigg sold 307 shares of Vulcan Materials stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the sale, the vice president now owns 1,896 shares in the company, valued at approximately $483,991.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Denson N. Franklin III sold 3,200 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total value of $862,336.00. Following the completion of the sale, the senior vice president now owns 5,395 shares in the company, valued at approximately $1,453,844.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Randy L. Pigg sold 307 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the sale, the vice president now owns 1,896 shares of the company’s stock, valued at approximately $483,991.92. The disclosure for this sale can be found here. Insiders sold 13,017 shares of company stock worth $3,344,741 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

Vulcan Materials Price Performance

VMC stock opened at $268.44 on Wednesday. Vulcan Materials has a 12 month low of $190.51 and a 12 month high of $276.58. The company has a current ratio of 2.74, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $265.74 and a 200 day moving average price of $237.76. The stock has a market cap of $35.50 billion, a PE ratio of 39.19, a P/E/G ratio of 1.97 and a beta of 0.83.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that Vulcan Materials will post 8.5 earnings per share for the current year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued a dividend of $0.46 per share. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.84 dividend on an annualized basis and a yield of 0.69%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Analyst Ratings Changes

VMC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $270.00 price target (up previously from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. The Goldman Sachs Group raised their target price on shares of Vulcan Materials from $264.00 to $292.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Citigroup increased their price target on shares of Vulcan Materials from $263.00 to $322.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Wolfe Research downgraded shares of Vulcan Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Finally, Raymond James increased their price target on shares of Vulcan Materials from $225.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $277.08.

Vulcan Materials Profile

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.