M&T Bank Corp Buys 31,555 Shares of Vulcan Materials Company $VMC

M&T Bank Corp grew its stake in Vulcan Materials Company (NYSE:VMC) by 245.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,427 shares of the construction company’s stock after acquiring an additional 31,555 shares during the period. M&T Bank Corp’s holdings in Vulcan Materials were worth $12,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Vulcan Materials by 5.8% during the third quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company’s stock worth $2,345,703,000 after buying an additional 414,828 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Vulcan Materials by 104.3% during the third quarter. Commonwealth Equity Services LLC now owns 72,113 shares of the construction company’s stock worth $22,183,000 after buying an additional 36,823 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Vulcan Materials by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,293,316 shares of the construction company’s stock worth $397,795,000 after buying an additional 3,931 shares during the last quarter. EFG Asset Management North America Corp. bought a new stake in shares of Vulcan Materials during the third quarter worth approximately $1,232,000. Finally, Swiss Life Asset Management Ltd raised its stake in shares of Vulcan Materials by 67.8% during the third quarter. Swiss Life Asset Management Ltd now owns 14,320 shares of the construction company’s stock worth $4,405,000 after buying an additional 5,787 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VMC. DA Davidson dropped their price target on shares of Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. Wells Fargo & Company dropped their price target on shares of Vulcan Materials from $315.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 15th. Truist Financial upped their target price on shares of Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 target price (down from $335.00) on shares of Vulcan Materials in a research note on Wednesday, March 4th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $324.08.

Insider Buying and Selling

In other Vulcan Materials news, Director Melissa H. Anderson sold 1,137 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $303.72, for a total value of $345,329.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is currently owned by corporate insiders.

Vulcan Materials Stock Up 0.9%

Vulcan Materials stock opened at $292.82 on Friday. The stock has a market capitalization of $38.20 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 2.18 and a beta of 1.10. Vulcan Materials Company has a twelve month low of $241.91 and a twelve month high of $331.09. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $286.16 and a 200-day moving average of $293.29.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 17th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.41). Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the company posted $2.17 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Vulcan Materials Company will post 9.17 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were paid a $0.52 dividend. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, March 9th. Vulcan Materials’s dividend payout ratio is 25.62%.

Vulcan Materials Profile

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.