Family Legacy Inc. Acquires Shares of 21,703 Vulcan Materials Company $VMC

Family Legacy Inc. purchased a new stake in Vulcan Materials Company (NYSE:VMC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 21,703 shares of the construction company’s stock, valued at approximately $6,403,000. Vulcan Materials comprises 1.7% of Family Legacy Inc.’s portfolio, making the stock its 16th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Vulcan Materials by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company’s stock valued at $1,016,168,000 after acquiring an additional 32,012 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Vulcan Materials by 6.1% in the 2nd quarter. Bank of America Corp DE now owns 2,309,444 shares of the construction company’s stock worth $602,349,000 after purchasing an additional 133,523 shares during the last quarter. Morgan Stanley grew its stake in shares of Vulcan Materials by 7.9% during the fourth quarter. Morgan Stanley now owns 1,727,232 shares of the construction company’s stock worth $492,642,000 after purchasing an additional 126,523 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Vulcan Materials by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company’s stock worth $366,592,000 after purchasing an additional 24,187 shares during the period. Finally, Norges Bank bought a new stake in Vulcan Materials in the fourth quarter valued at about $383,613,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Vulcan Materials Trading Up 1.5%

NYSE VMC opened at $281.74 on Friday. The firm has a market cap of $36.51 billion, a P/E ratio of 33.26, a P/E/G ratio of 2.03 and a beta of 1.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. The stock’s 50-day moving average is $289.52 and its 200-day moving average is $288.49. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.13. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business posted $2.42 EPS. Vulcan Materials’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 13th. Vulcan Materials’s dividend payout ratio (DPR) is 24.56%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VMC. UBS Group cut their price target on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Stifel Nicolaus set a $333.00 target price on shares of Vulcan Materials in a research note on Thursday, April 30th. Barclays increased their target price on shares of Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Oppenheimer initiated coverage on shares of Vulcan Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. Finally, Stephens boosted their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $327.93.

Vulcan Materials Company 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.