Principal Financial Group Inc. Has $1.33 Billion Stake in Vulcan Materials (NYSE:VMC)

Principal Financial Group Inc. raised its position in shares of Vulcan Materials (NYSE:VMC) by 19.9% during the third quarter, HoldingsChannel.com reports. The fund owned 5,320,570 shares of the construction company’s stock after buying an additional 884,580 shares during the quarter. Vulcan Materials accounts for about 0.7% of Principal Financial Group Inc.’s holdings, making the stock its 25th biggest position. Principal Financial Group Inc.’s holdings in Vulcan Materials were worth $1,332,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Vulcan Materials by 5.0% during the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after acquiring an additional 755,991 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after buying an additional 330,433 shares during the period. Capital World Investors bought a new stake in Vulcan Materials during the 1st quarter valued at $388,027,000. Vontobel Holding Ltd. lifted its stake in shares of Vulcan Materials by 7.1% in the third quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock valued at $342,971,000 after buying an additional 91,318 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Vulcan Materials by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock worth $331,404,000 after acquiring an additional 43,294 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $290.44 on Thursday. The firm has a market cap of $38.36 billion, a price-to-earnings ratio of 45.81, a price-to-earnings-growth ratio of 2.58 and a beta of 0.81. The stock has a fifty day simple moving average of $249.81 and a two-hundred day simple moving average of $252.67. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. Vulcan Materials has a 1-year low of $206.11 and a 1-year high of $298.31.

Vulcan Materials (NYSE:VMC) last announced 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 firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The company’s revenue was down 8.3% compared to the same quarter last year. During the same period last year, the business posted $2.29 EPS. Analysts anticipate that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is presently 29.02%.

Analyst Ratings Changes

Several brokerages recently weighed in on VMC. Barclays raised their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. UBS Group began coverage on Vulcan Materials in a report on Thursday. They issued a “buy” rating and a $349.00 target price on the stock. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada lowered their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial lifted their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.