Franklin Resources Inc. Has $290.52 Million Holdings in Vulcan Materials Company $VMC

Franklin Resources Inc. lifted its holdings in Vulcan Materials Company (NYSE:VMC) by 31.2% during the third quarter, HoldingsChannel.com reports. The firm owned 944,410 shares of the construction company’s stock after purchasing an additional 224,486 shares during the period. Franklin Resources Inc.’s holdings in Vulcan Materials were worth $290,519,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Vulcan Materials by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 17,207,183 shares of the construction company’s stock valued at $5,293,274,000 after buying an additional 311,539 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Vulcan Materials by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,924,285 shares of the construction company’s stock worth $2,437,669,000 after buying an additional 99,298 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Vulcan Materials by 5.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company’s stock worth $2,345,703,000 after buying an additional 414,828 shares during the last quarter. State Street Corp increased its position in shares of Vulcan Materials by 1.7% in the second quarter. State Street Corp now owns 5,558,791 shares of the construction company’s stock valued at $1,449,844,000 after acquiring an additional 95,256 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Vulcan Materials by 0.8% in the second quarter. Geode Capital Management LLC now owns 3,491,618 shares of the construction company’s stock valued at $906,961,000 after acquiring an additional 27,531 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Down 1.1%

Vulcan Materials stock opened at $263.61 on Friday. The stock has a 50-day simple moving average of $302.85 and a 200 day simple moving average of $296.95. The stock has a market capitalization of $34.42 billion, a P/E ratio of 32.46, a PEG ratio of 1.99 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. Vulcan Materials Company has a 52 week low of $218.87 and a 52 week high of $331.09.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Tuesday, February 17th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the company earned $2.17 EPS. Vulcan Materials’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be paid a $0.52 dividend. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, March 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Vulcan Materials’s dividend payout ratio (DPR) is currently 25.62%.

Wall Street Analyst Weigh In

VMC has been the subject of several recent research reports. B. Riley Financial assumed coverage on Vulcan Materials in a research report on Thursday, January 15th. They set a “buy” rating and a $345.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vulcan Materials in a research report on Tuesday, January 27th. DA Davidson dropped their price objective on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Wall Street Zen downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, Citigroup raised their target price on shares of Vulcan Materials from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.29.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, Director Melissa H. Anderson sold 1,137 shares of Vulcan Materials stock in a transaction on Friday, February 20th. The shares were sold at an average price of $303.72, for a total transaction of $345,329.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is owned by corporate insiders.

Vulcan Materials Profile

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.