Franklin Resources Inc. Has $187.77 Million Stock Position in Vulcan Materials Company $VMC

Franklin Resources Inc. boosted its stake in Vulcan Materials Company (NYSE:VMC) by 598.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 719,924 shares of the construction company’s stock after acquiring an additional 616,850 shares during the period. Franklin Resources Inc. owned 0.54% of Vulcan Materials worth $187,771,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VMC. Wealth Enhancement Advisory Services LLC lifted its holdings in Vulcan Materials by 26.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,938 shares of the construction company’s stock valued at $5,308,000 after buying an additional 4,140 shares during the period. Alpha Cubed Investments LLC grew its holdings in Vulcan Materials by 577.2% during the 2nd quarter. Alpha Cubed Investments LLC now owns 48,902 shares of the construction company’s stock worth $12,755,000 after acquiring an additional 41,681 shares during the period. Atria Wealth Solutions Inc. raised its position in shares of Vulcan Materials by 7.8% in the 1st quarter. Atria Wealth Solutions Inc. now owns 3,870 shares of the construction company’s stock worth $903,000 after acquiring an additional 281 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Vulcan Materials by 4.7% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,973 shares of the construction company’s stock valued at $11,208,000 after purchasing an additional 1,911 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of Vulcan Materials by 3.2% in the 2nd quarter. Diversified Trust Co now owns 1,625 shares of the construction company’s stock valued at $424,000 after purchasing an additional 51 shares during the period. Institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

VMC has been the subject of several recent analyst reports. Wells Fargo & Company raised Vulcan Materials to a “hold” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective on shares of Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Citigroup lowered their price objective on shares of Vulcan Materials from $356.00 to $342.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. increased their target price on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Finally, Barclays raised their price target on shares of Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $317.58.

Insider Activity

In other Vulcan Materials news, President Thompson S. Baker II sold 5,818 shares of Vulcan Materials stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $292.26, for a total transaction of $1,700,368.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David P. Clement sold 698 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the sale, the senior vice president directly owned 2,832 shares of the company’s stock, valued at $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 11,369 shares of company stock worth $3,343,456. 0.62% of the stock is owned by insiders.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $287.97 on Friday. Vulcan Materials Company has a twelve month low of $215.08 and a twelve month high of $311.74. The stock’s 50 day moving average is $294.78 and its 200-day moving average is $281.43. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $38.05 billion, a price-to-earnings ratio of 40.22, a PEG ratio of 2.39 and a beta of 0.95.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.12. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business posted $2.22 EPS. Vulcan Materials’s quarterly revenue was up 14.4% on a year-over-year basis. Sell-side analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Monday, November 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, November 10th. Vulcan Materials’s dividend payout ratio is currently 23.28%.

About Vulcan Materials

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.