Vulcan Materials (NYSE:VMC) Shares Purchased by Skye Global Management LP

Skye Global Management LP raised its position in shares of Vulcan Materials (NYSE:VMC) by 174.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 428,000 shares of the construction company’s stock after acquiring an additional 272,000 shares during the quarter. Vulcan Materials makes up about 2.3% of Skye Global Management LP’s holdings, making the stock its 8th largest holding. Skye Global Management LP owned 0.32% of Vulcan Materials worth $110,094,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in VMC. Vanguard Group Inc. lifted its stake in shares of Vulcan Materials by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,352,507 shares of the construction company’s stock worth $4,206,355,000 after buying an additional 90,157 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Vulcan Materials by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company’s stock valued at $1,559,380,000 after purchasing an additional 741,631 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Vulcan Materials by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 3,348,418 shares of the construction company’s stock valued at $859,171,000 after purchasing an additional 36,833 shares during the last quarter. Norges Bank purchased a new position in Vulcan Materials during the fourth quarter worth approximately $380,369,000. Finally, Alkeon Capital Management LLC boosted its stake in Vulcan Materials by 54.1% during the fourth quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company’s stock worth $329,769,000 after buying an additional 450,000 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Trading Up 1.7%

VMC opened at $270.93 on Friday. The business’s 50-day simple moving average is $244.71 and its 200-day simple moving average is $260.50. The company has a market cap of $35.79 billion, a P/E ratio of 39.55, a PEG ratio of 2.03 and a beta of 0.84. Vulcan Materials has a one year low of $215.08 and a one year high of $298.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.02 and a current ratio of 1.83.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.20. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.49 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.96 annualized dividend and a dividend yield of 0.72%. Vulcan Materials’s dividend payout ratio (DPR) is 27.80%.

Analyst Ratings Changes

Several equities analysts have weighed in on VMC shares. Morgan Stanley boosted their target price on shares of Vulcan Materials from $273.00 to $303.00 and gave the company an “equal weight” rating in a report on Monday. Wolfe Research upgraded Vulcan Materials from a “peer perform” rating to an “outperform” rating in a report on Thursday, April 10th. Stephens set a $315.00 target price on Vulcan Materials and gave the company an “overweight” rating in a research report on Thursday, May 1st. UBS Group lowered shares of Vulcan Materials from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $343.00 to $258.00 in a research note on Monday, April 7th. Finally, Seaport Res Ptn upgraded shares of Vulcan Materials to a “strong-buy” rating in a report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.45.

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.