Family Legacy Inc. Makes New Investment in 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 Form 13F filing with the Securities and Exchange Commission. The fund purchased 21,703 shares of the construction company’s stock, valued at approximately $6,403,000. Vulcan Materials accounts for about 1.7% of Family Legacy Inc.’s holdings, making the stock its 16th biggest position.

Other hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in shares of Vulcan Materials during the 2nd quarter valued at about $37,000. USA Financial Formulas acquired a new position in Vulcan Materials in the first quarter worth about $92,000. Beacon Bank & Trust bought a new position in Vulcan Materials during the second quarter worth about $211,000. Tema ETFs LLC lifted its stake in Vulcan Materials by 8.0% during the second quarter. Tema ETFs LLC now owns 1,957 shares of the construction company’s stock worth $577,000 after purchasing an additional 145 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Vulcan Materials by 1.9% during the second quarter. Handelsbanken Fonder AB now owns 75,045 shares of the construction company’s stock valued at $22,139,000 after purchasing an additional 1,432 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock opened at $281.74 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $36.51 billion, a price-to-earnings ratio of 33.26, a P/E/G ratio of 2.03 and a beta of 1.06. Vulcan Materials Company has a 1-year low of $252.35 and a 1-year high of $331.09. The firm’s 50-day moving average price is $289.52 and its two-hundred day moving average price is $288.49.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business posted $2.42 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s dividend payout ratio (DPR) is currently 24.56%.

Analyst Ratings Changes

VMC has been the topic of several analyst reports. UBS Group lowered their price objective on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Wall Street Zen downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Wells Fargo & Company decreased their price target on Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Raymond James Financial reiterated an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Finally, Berenberg Bank set a $283.00 price objective on Vulcan Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus target price of $327.93.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of Vulcan Materials stock in a transaction on Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the transaction, the senior vice president owned 6,716 shares in the company, valued at approximately $1,914,731.60. The trade was a 22.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is owned by corporate insiders.

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.