Franklin Resources Inc. Acquires 36,228 Shares of Vulcan Materials Company $VMC

Franklin Resources Inc. boosted its holdings in Vulcan Materials Company (NYSE:VMC) by 3.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 980,638 shares of the construction company’s stock after acquiring an additional 36,228 shares during the quarter. Franklin Resources Inc. owned 0.74% of Vulcan Materials worth $279,698,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VMC. Lone Pine Capital LLC bought a new position in Vulcan Materials in the 3rd quarter valued at about $425,938,000. Norges Bank bought a new position in Vulcan Materials in the 4th quarter valued at about $383,613,000. Egerton Capital UK LLP bought a new position in Vulcan Materials in the 4th quarter valued at about $273,861,000. Assenagon Asset Management S.A. lifted its position in Vulcan Materials by 993.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock valued at $113,126,000 after acquiring an additional 360,368 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in Vulcan Materials in the 3rd quarter valued at about $98,911,000. Institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on VMC. Berenberg Bank set a $283.00 target price on shares of Vulcan Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Royal Bank Of Canada lifted their target price on shares of Vulcan Materials from $296.00 to $298.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 target price (down from $335.00) on shares of Vulcan Materials in a research report on Wednesday, March 4th. Raymond James Financial set a $325.00 target price on shares of Vulcan Materials in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vulcan Materials currently has an average rating of “Hold” and a consensus target price of $326.92.

Vulcan Materials Trading Up 3.5%

Shares of VMC stock opened at $279.33 on Wednesday. The company has a 50 day moving average of $282.20 and a 200-day moving average of $290.19. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The firm has a market cap of $36.25 billion, a P/E ratio of 33.21, a PEG ratio of 1.95 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business posted $1.00 EPS. Vulcan Materials’s quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side 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 was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is presently 24.73%.

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.