Legacy Capital Wealth Partners LLC Invests $381,000 in Vulcan Materials (NYSE:VMC)

Legacy Capital Wealth Partners LLC acquired a new stake in Vulcan Materials (NYSE:VMC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,533 shares of the construction company’s stock, valued at approximately $381,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Independent Advisor Alliance grew its stake in shares of Vulcan Materials by 1.2% in the fourth quarter. Independent Advisor Alliance now owns 6,411 shares of the construction company’s stock worth $1,455,000 after purchasing an additional 73 shares in the last quarter. Cetera Advisors LLC raised its position in Vulcan Materials by 118.1% in the first quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock worth $1,132,000 after acquiring an additional 2,245 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Vulcan Materials by 621.1% in the 1st quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock valued at $64,581,000 after acquiring an additional 203,166 shares during the last quarter. Mather Group LLC. boosted its position in shares of Vulcan Materials by 16.1% during the 2nd quarter. Mather Group LLC. now owns 491 shares of the construction company’s stock valued at $134,000 after purchasing an additional 68 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of Vulcan Materials by 3.0% in the 2nd quarter. Raymond James & Associates now owns 202,539 shares of the construction company’s stock worth $50,367,000 after purchasing an additional 5,979 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $239.02 on Wednesday. The stock has a fifty day moving average price of $250.25 and a two-hundred day moving average price of $257.50. The firm has a market capitalization of $31.56 billion, a P/E ratio of 34.89, a P/E/G ratio of 2.25 and a beta of 0.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $278.79.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $2.29 earnings per share. As a group, analysts anticipate that Vulcan Materials will post 7.82 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Thursday, August 15th. Vulcan Materials’s dividend payout ratio is currently 26.86%.

Insider Buying and Selling

In other news, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $249.50, for a total value of $249,500.00. Following the sale, the senior vice president now directly owns 1,660 shares of the company’s stock, valued at approximately $414,170. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stephens reduced their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada cut their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Truist Financial dropped their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Citigroup lowered their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Loop Capital decreased their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $274.73.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.