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

Key Points

• Franklin Resources increased its stake in Vulcan Materials by 31.2% to 944,410 shares, a holding worth about $290.52 million (roughly 0.71% of the company).
• Vulcan Materials missed quarterly expectations—EPS was $1.70 vs. $2.11 estimated and revenue was $1.91B vs. $1.95B estimated—but the company raised its quarterly dividend to $0.52 (annualized $2.08, yield 0.8%).
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $326.29, though individual broker views range from sell to buy.

Franklin Resources Inc. grew its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 31.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 944,410 shares of the construction company's stock after buying an additional 224,486 shares during the period. Franklin Resources Inc. owned approximately 0.71% of Vulcan Materials worth $290,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of VMC. National Pension Service increased its stake in Vulcan Materials by 0.8% in the second quarter. National Pension Service now owns 175,458 shares of the construction company's stock valued at $45,763,000 after purchasing an additional 1,455 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Vulcan Materials by 5.8% during the third quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company's stock worth $2,345,703,000 after purchasing an additional 414,828 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Vulcan Materials by 12.3% during the second quarter. JPMorgan Chase & Co. now owns 7,824,987 shares of the construction company's stock worth $2,040,914,000 after purchasing an additional 857,210 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Vulcan Materials by 104.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 72,113 shares of the construction company's stock valued at $22,183,000 after buying an additional 36,823 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Vulcan Materials by 19.3% in the 2nd quarter. American Century Companies Inc. now owns 256,789 shares of the construction company's stock valued at $66,976,000 after buying an additional 41,504 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on VMC. Wall Street Zen downgraded Vulcan Materials from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. Morgan Stanley boosted their target price on Vulcan Materials from $321.00 to $322.00 and gave the company an "equal weight" rating in a research note on Monday. DA Davidson lowered their price target on Vulcan Materials from $330.00 to $320.00 and set a "neutral" rating for the company in a report on Wednesday, February 18th. Truist Financial raised their price target on Vulcan Materials from $320.00 to $360.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $320.00 price objective (down from $335.00) on shares of Vulcan Materials in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Vulcan Materials has an average rating of "Moderate Buy" and a consensus price target of $326.29.

Insider Activity

In related news, Director Melissa H. Anderson sold 1,137 shares of Vulcan Materials stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $303.72, for a total value of $345,329.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.62% of the company's stock.

Vulcan Materials Trading Down 1.1%

VMC opened at $263.61 on Friday. The stock has a market capitalization of $34.42 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.99 and a beta of 1.05. The company has a current ratio of 2.69, a quick ratio of 1.97 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a 12 month low of $218.87 and a 12 month high of $331.09. The firm's fifty day simple moving average is $302.85 and its 200 day simple moving average is $296.95.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.11 by ($0.41). Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the company posted $2.17 EPS. Vulcan Materials's revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, March 9th. This is a boost from Vulcan Materials's previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. Vulcan Materials's dividend payout ratio is 25.62%.

Vulcan Materials Company 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.

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