Legal & General Group Plc Invests $184.70 Million in Vulcan Materials Company $VMC

Legal & General Group Plc acquired a new stake in shares of Vulcan Materials Company (NYSE:VMC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 626,075 shares of the construction company’s stock, valued at approximately $184,698,000.

Other hedge funds also recently made changes to their positions in the company. Chesapeake Capital Corp IL grew its position in Vulcan Materials by 0.9% in the fourth quarter. Chesapeake Capital Corp IL now owns 3,712 shares of the construction company’s stock worth $1,059,000 after acquiring an additional 33 shares in the last quarter. Composition Wealth LLC raised its position in Vulcan Materials by 3.5% during the fourth quarter. Composition Wealth LLC now owns 1,014 shares of the construction company’s stock valued at $289,000 after purchasing an additional 34 shares in the last quarter. Truist Financial Corp raised its position in Vulcan Materials by 0.3% during the fourth quarter. Truist Financial Corp now owns 13,331 shares of the construction company’s stock valued at $3,802,000 after purchasing an additional 38 shares in the last quarter. United Capital Financial Advisors LLC lifted its stake in Vulcan Materials by 1.2% during the third quarter. United Capital Financial Advisors LLC now owns 3,095 shares of the construction company’s stock worth $952,000 after purchasing an additional 38 shares during the last quarter. Finally, 4WEALTH Advisors Inc. boosted its holdings in shares of Vulcan Materials by 3.2% in the 1st quarter. 4WEALTH Advisors Inc. now owns 1,261 shares of the construction company’s stock worth $337,000 after purchasing an additional 39 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Down 0.1%

Shares of NYSE:VMC opened at $273.79 on Thursday. The stock’s 50-day moving average price is $287.90 and its 200-day moving average price is $286.71. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The stock has a market capitalization of $35.48 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47.

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

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s payout ratio is 24.56%.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

VMC has been the topic of several recent research reports. Royal Bank Of Canada increased their price objective on Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Stifel Nicolaus set a $333.00 target price on Vulcan Materials in a research note on Thursday, April 30th. Wall Street Zen cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Citigroup reduced their price target on shares of Vulcan Materials from $355.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, DA Davidson began coverage on shares of Vulcan Materials in a research note on Tuesday. They set a “buy” rating and a $330.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.64.

About Vulcan Materials

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.