Legal & General Group Plc Grows Holdings in Vulcan Materials Company $VMC

Key Points

• Legal & General raised its stake in Vulcan Materials by 3.0% in Q3 to 685,246 shares, representing 0.52% of the company and worth about $210.8 million.
• Vulcan missed the latest quarter's estimates, reporting $1.70 EPS vs. a $2.11 consensus and $1.91 billion in revenue vs. $1.95 billion, though revenue was up 3.2% year‑over‑year.
• The company increased its quarterly dividend to $0.52 (annualized $2.08) with an ex‑dividend date of March 9, while analysts hold a "Moderate Buy" consensus and an average price target of $326.29.

Legal & General Group Plc lifted its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 685,246 shares of the construction company's stock after acquiring an additional 19,797 shares during the quarter. Legal & General Group Plc owned 0.52% of Vulcan Materials worth $210,795,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Westside Investment Management Inc. raised its position in Vulcan Materials by 100.0% in the third quarter. Westside Investment Management Inc. now owns 84 shares of the construction company's stock valued at $25,000 after purchasing an additional 42 shares during the period. Greykasell Wealth Strategies Inc. purchased a new position in shares of Vulcan Materials during the third quarter worth $29,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Vulcan Materials during the third quarter worth $42,000. Bayforest Capital Ltd acquired a new stake in shares of Vulcan Materials in the third quarter valued at $46,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Vulcan Materials in the third quarter valued at $49,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insider Buying and Selling at Vulcan Materials

In related news, Director Melissa H. Anderson sold 1,137 shares of the firm's stock in a transaction that occurred 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 SEC, which is accessible through the SEC website. Insiders own 0.62% of the company's stock.

Vulcan Materials Stock Down 1.1%

Shares of NYSE VMC opened at $263.61 on Friday. The stock has a market cap of $34.42 billion, a P/E ratio of 32.46, a PEG ratio of 1.99 and a beta of 1.05. The business's fifty day simple moving average is $302.85 and its 200-day simple moving average is $296.95. Vulcan Materials Company has a 12-month low of $218.87 and a 12-month high of $331.09. The company has a current ratio of 2.69, a quick ratio of 1.97 and a debt-to-equity ratio of 0.51.

Vulcan Materials (NYSE:VMC - Get Free Report) last released 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). The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The company's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.17 earnings per share. As a group, equities analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, March 9th. This is a positive change from Vulcan Materials's previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. Vulcan Materials's payout ratio is currently 25.62%.

Wall Street Analysts Forecast Growth

VMC has been the topic of several research analyst reports. B. Riley Financial began coverage on Vulcan Materials in a report on Thursday, January 15th. They issued a "buy" rating and a $345.00 price objective on the stock. Truist Financial raised their target price on Vulcan Materials from $320.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, February 19th. 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 report on Wednesday, March 4th. Royal Bank Of Canada cut their price target on shares of Vulcan Materials from $316.00 to $296.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 18th. Finally, Morgan Stanley increased their price target on shares of Vulcan Materials from $321.00 to $322.00 and gave the stock an "equal weight" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $326.29.

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.

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