Family Legacy Inc. Has $1.56 Million Holdings in Vulcan Materials (VMC)
Family Legacy Inc. reduced its stake in Vulcan Materials (NYSE:VMC) by 28.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,000 shares of the construction company’s stock after selling 5,283 shares during the period. Vulcan Materials accounts for about 4.0% of Family Legacy Inc.’s investment portfolio, making the stock its 6th biggest holding. Family Legacy Inc.’s holdings in Vulcan Materials were worth $1,555,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Sun Life Financial INC boosted its position in shares of Vulcan Materials by 10,666.7% during the second quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock worth $123,000 after buying an additional 960 shares during the period. Korea Investment CORP boosted its position in shares of Vulcan Materials by 140.5% during the second quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock worth $156,000 after buying an additional 718 shares during the period. Schroder Investment Management Group acquired a new position in shares of Vulcan Materials during the second quarter worth approximately $187,000. Wetherby Asset Management Inc. acquired a new position in shares of Vulcan Materials during the second quarter worth approximately $203,000. Finally, Jaffetilchin Investment Partners LLC acquired a new position in shares of Vulcan Materials during the second quarter worth approximately $204,000. Institutional investors own 89.10% of the company’s stock.
Several brokerages have recently issued reports on VMC. Jefferies Group boosted their price objective on Vulcan Materials from $122.00 to $128.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Barclays began coverage on Vulcan Materials in a research report on Tuesday. They set an “overweight” rating and a $135.00 price objective for the company. Citigroup reissued a “buy” rating and set a $140.00 target price (down previously from $145.00) on shares of Vulcan Materials in a report on Monday, October 9th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $154.00 target price on shares of Vulcan Materials in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $139.29.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, November 1st. The construction company reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.36). Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $1.01 EPS. Vulcan Materials’s revenue for the quarter was up 8.6% on a year-over-year basis. equities analysts predict that Vulcan Materials will post 3.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Wednesday, November 22nd were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, November 21st. This represents a $1.00 annualized dividend and a yield of 0.82%. Vulcan Materials’s payout ratio is 34.97%.
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Vulcan Materials Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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