Does Vulcan Materials Company (VMC) have Pricing Power?

ClearBridge Investments, an investment management company, released its “ClearBridge Dividend Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed the S&P 500 benchmark index. Only the materials sector contributed positively to the strategy’s performance among the 11 sectors. IT and communication services sectors were the major detractors in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like Vulcan Materials Company (NYSE:VMC) in the Q3 2022 investor letter. Headquartered in Birmingham, Alabama, Vulcan Materials Company (NYSE:VMC) is a construction aggregates producer and supplier. On November 4, 2022, Vulcan Materials Company (NYSE:VMC) stock closed at $170.15 per share. One-month return of Vulcan Materials Company (NYSE:VMC) was 8.04% and its shares lost 13.22% of their value over the last 52 weeks. Vulcan Materials Company (NYSE:VMC) has a market capitalization of $22.614 billion.

ClearBridge Investments made the following comment about Vulcan Materials Company (NYSE:VMC) in its Q3 2022 investor letter:

“As always, we focus on companies with strong competitive moats, high margins and returns, recurring revenues, pricing power and growing dividends. Our emphasis on investing in companies with pricing power has enabled our portfolio companies, such as aggregates producer Vulcan Materials Company (NYSE:VMC), a top contributor in the third quarter, to admirably offset rising costs seen across the economy.”

Photo by Scott Blake on Unsplash

Vulcan Materials Company (NYSE:VMC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Vulcan Materials Company (NYSE:VMC) at the end of the second quarter, which was 36 in the previous quarter.

We discussed Vulcan Materials Company (NYSE:VMC) in another article and shared the best infrastructure stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.