Principal Financial Group Inc. Acquires 884,580 Shares of Vulcan Materials (NYSE:VMC)

Principal Financial Group Inc. increased its holdings in shares of Vulcan Materials (NYSE:VMC) by 19.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,320,570 shares of the construction company’s stock after acquiring an additional 884,580 shares during the quarter. Vulcan Materials comprises about 0.7% of Principal Financial Group Inc.’s investment portfolio, making the stock its 25th largest holding. Principal Financial Group Inc. owned approximately 4.03% of Vulcan Materials worth $1,332,431,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VMC. BSW Wealth Partners grew its position in Vulcan Materials by 12.3% during the third quarter. BSW Wealth Partners now owns 1,424 shares of the construction company’s stock worth $357,000 after buying an additional 156 shares in the last quarter. Nvwm LLC lifted its position in shares of Vulcan Materials by 2.4% during the 3rd quarter. Nvwm LLC now owns 3,170 shares of the construction company’s stock valued at $794,000 after acquiring an additional 75 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Vulcan Materials by 2.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 53,087 shares of the construction company’s stock worth $13,295,000 after purchasing an additional 1,373 shares in the last quarter. Princeton Global Asset Management LLC raised its stake in Vulcan Materials by 1.2% in the third quarter. Princeton Global Asset Management LLC now owns 16,148 shares of the construction company’s stock valued at $4,044,000 after purchasing an additional 191 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in Vulcan Materials by 136.3% during the third quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock worth $89,117,000 after purchasing an additional 205,260 shares during the period. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

VMC stock opened at $290.44 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. Vulcan Materials has a 52-week low of $206.11 and a 52-week high of $298.31. The company has a market capitalization of $38.36 billion, a P/E ratio of 45.81, a PEG ratio of 2.58 and a beta of 0.81. The company has a fifty day moving average price of $249.81 and a 200-day moving average price of $252.67.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the firm posted $2.29 earnings per share. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. As a group, equities analysts expect that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.63%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s payout ratio is presently 29.02%.

Analyst Ratings Changes

Several equities analysts have recently commented on VMC shares. Truist Financial boosted their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada decreased their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Stephens lowered their price target on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, UBS Group initiated coverage on Vulcan Materials in a research note on Thursday. They issued a “buy” rating and a $349.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $280.46.

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.