Principal Financial Group Inc. Boosts Holdings in Vulcan Materials (NYSE:VMC)

Principal Financial Group Inc. lifted its stake in shares of Vulcan Materials (NYSE:VMC - Free Report) by 13.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,062,201 shares of the construction company's stock after purchasing an additional 741,631 shares during the quarter. Vulcan Materials comprises approximately 0.9% of Principal Financial Group Inc.'s portfolio, making the stock its 19th biggest position. Principal Financial Group Inc. owned about 4.59% of Vulcan Materials worth $1,559,380,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VMC. Inspire Investing LLC raised its stake in shares of Vulcan Materials by 7.6% during the third quarter. Inspire Investing LLC now owns 1,139 shares of the construction company's stock worth $285,000 after purchasing an additional 80 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Vulcan Materials during the third quarter worth approximately $213,000. Creative Planning raised its position in Vulcan Materials by 2.3% in the third quarter. Creative Planning now owns 14,238 shares of the construction company's stock worth $3,566,000 after acquiring an additional 318 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Vulcan Materials by 1.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,976 shares of the construction company's stock worth $4,001,000 after acquiring an additional 160 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in Vulcan Materials by 40.5% in the third quarter. V Square Quantitative Management LLC now owns 1,245 shares of the construction company's stock worth $312,000 after acquiring an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Price Performance

Shares of VMC traded down $6.33 during trading hours on Thursday, reaching $258.64. 708,821 shares of the company traded hands, compared to its average volume of 737,634. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $34.16 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.84. Vulcan Materials has a fifty-two week low of $225.36 and a fifty-two week high of $298.31. The stock has a fifty day simple moving average of $267.05 and a 200 day simple moving average of $261.46.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.41. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. Vulcan Materials had a return on equity of 13.01% and a net margin of 12.30%. During the same quarter last year, the company earned $1.46 earnings per share. As a group, research analysts predict that Vulcan Materials will post 8.83 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.49 dividend. This is a boost from Vulcan Materials's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.96 annualized dividend and a yield of 0.76%. Vulcan Materials's payout ratio is 26.86%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group assumed coverage on Vulcan Materials in a research report on Thursday, November 7th. They issued a "buy" rating and a $349.00 price objective for the company. Citigroup cut their price objective on Vulcan Materials from $325.00 to $301.00 and set a "buy" rating for the company in a research report on Monday, January 6th. StockNews.com upgraded Vulcan Materials from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Vulcan Materials from $245.00 to $290.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada increased their price objective on Vulcan Materials from $269.00 to $286.00 and gave the stock a "sector perform" rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $303.82.

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.