Franklin Resources Inc. Grows Stock Holdings in Vulcan Materials Company $VMC

Franklin Resources Inc. boosted its holdings in Vulcan Materials Company (NYSE:VMC) by 3.8% in the fourth quarter, Holdings Channel reports. 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.’s holdings in Vulcan Materials were worth $279,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of VMC. NBT Bank N A NY purchased a new position in Vulcan Materials in the 4th quarter valued at approximately $26,000. Godsey & Gibb Inc. purchased a new position in Vulcan Materials in the 4th quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC purchased a new position in Vulcan Materials in the 3rd quarter valued at approximately $30,000. WPG Advisers LLC grew its stake in Vulcan Materials by 56.4% in the 4th quarter. WPG Advisers LLC now owns 122 shares of the construction company’s stock valued at $35,000 after buying an additional 44 shares in the last quarter. Finally, Concord Wealth Partners purchased a new position in Vulcan Materials in the 4th quarter valued at approximately $36,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Stock Up 3.5%

Shares of NYSE:VMC opened at $279.33 on Wednesday. The firm has a fifty day moving average price of $282.20 and a two-hundred day moving average price of $290.19. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09. The company has a market cap of $36.25 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 1.95 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, beating 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 firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm earned $1.00 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 22nd. Vulcan Materials’s payout ratio is currently 24.73%.

Analysts Set New Price Targets

VMC has been the subject of a number of recent research reports. DA Davidson reduced their price objective on shares of Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Raymond James Financial set a $325.00 price target on shares of Vulcan Materials in a report on Thursday, April 30th. Barclays raised their price target on shares of Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Stephens raised their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Citigroup cut their price target on shares of Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $326.92.

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.