Franklin Resources Inc. boosted its holdings in shares of Vulcan Materials (NYSE:VMC - Free Report) by 284.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,650 shares of the construction company's stock after buying an additional 33,051 shares during the period. Franklin Resources Inc.'s holdings in Vulcan Materials were worth $11,104,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of VMC. SouthState Corp lifted its position in shares of Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company's stock worth $25,000 after purchasing an additional 87 shares in the last quarter. Kings Path Partners LLC acquired a new stake in shares of Vulcan Materials during the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Vulcan Materials during the 3rd quarter valued at $30,000. UMB Bank n.a. grew its holdings in shares of Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company's stock valued at $31,000 after acquiring an additional 47 shares in the last quarter. Finally, Concord Wealth Partners acquired a new position in shares of Vulcan Materials in the third quarter worth $35,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on VMC. StockNews.com upgraded Vulcan Materials from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. UBS Group started coverage on Vulcan Materials in a report on Thursday, November 7th. They set a "buy" rating and a $349.00 price target for the company. Barclays increased their price objective on Vulcan Materials from $250.00 to $285.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a "neutral" rating in a research note on Wednesday, November 27th. Finally, Truist Financial increased their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $284.33.
Get Our Latest Report on Vulcan Materials
Vulcan Materials stock opened at $263.13 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. Vulcan Materials has a fifty-two week low of $218.37 and a fifty-two week high of $298.31. The firm has a fifty day moving average price of $274.90 and a two-hundred day moving average price of $257.34. The firm has a market cap of $34.75 billion, a price-to-earnings ratio of 41.50, a P/E/G ratio of 2.67 and a beta of 0.81.
Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. Vulcan Materials's revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 EPS. As a group, analysts forecast that Vulcan Materials will post 7.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were given a $0.46 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.70%. Vulcan Materials's dividend payout ratio is 29.02%.
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.
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