Principal Financial Group Inc. Buys 445,691 Shares of Vulcan Materials Company (NYSE:VMC)

Principal Financial Group Inc. lifted its position in Vulcan Materials Company (NYSE:VMC) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,507,892 shares of the construction company’s stock after buying an additional 445,691 shares during the quarter. Vulcan Materials makes up approximately 0.9% of Principal Financial Group Inc.’s portfolio, making the stock its 20th biggest holding. Principal Financial Group Inc. owned approximately 4.92% of Vulcan Materials worth $1,518,291,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VMC. Quadrant Capital Group LLC lifted its stake in Vulcan Materials by 2.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,791 shares of the construction company’s stock worth $461,000 after purchasing an additional 44 shares in the last quarter. Alpha Omega Wealth Management LLC raised its position in shares of Vulcan Materials by 1.1% in the first quarter. Alpha Omega Wealth Management LLC now owns 4,336 shares of the construction company’s stock worth $1,012,000 after buying an additional 46 shares in the last quarter. Washington Trust Advisors Inc. raised its position in shares of Vulcan Materials by 30.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company’s stock worth $54,000 after buying an additional 48 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in Vulcan Materials by 4.3% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,169 shares of the construction company’s stock valued at $301,000 after buying an additional 48 shares during the period. Finally, Wellington Management Group LLP grew its position in Vulcan Materials by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company’s stock worth $249,000 after buying an additional 51 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $270.00, for a total transaction of $405,000.00. Following the completion of the sale, the senior vice president owned 2,832 shares of the company’s stock, valued at approximately $764,640. This represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $265.64 on Thursday. The company has a quick ratio of 1.51, a current ratio of 2.42 and a debt-to-equity ratio of 0.60. The stock has a market cap of $35.09 billion, a PE ratio of 37.68, a PEG ratio of 2.36 and a beta of 0.82. The company’s fifty day moving average is $263.84 and its 200 day moving average is $256.37. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.80 by $0.20. Vulcan Materials had a return on equity of 12.91% and a net margin of 12.50%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were paid a $0.49 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.96 dividend on an annualized basis and a yield of 0.74%. Vulcan Materials’s dividend payout ratio (DPR) is currently 27.80%.

Analysts Set New Price Targets

Several research firms have weighed in on VMC. Citigroup reaffirmed a “buy” rating on shares of Vulcan Materials in a report on Monday, March 24th. UBS Group raised shares of Vulcan Materials from a “neutral” rating to a “buy” rating and raised their target price for the company from $280.00 to $318.00 in a research note on Friday, May 16th. Stifel Nicolaus lifted their target price on shares of Vulcan Materials from $287.00 to $309.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Seaport Res Ptn raised shares of Vulcan Materials to a “strong-buy” rating in a report on Friday, March 21st. Finally, Morgan Stanley raised their price objective on shares of Vulcan Materials from $273.00 to $303.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and an average target price of $302.91.

Vulcan Materials Company Profile

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.