Vulcan Materials (NYSE:VMC) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Vulcan Materials (NYSE:VMC) by 13.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,062,201 shares of the construction company’s stock after purchasing an additional 741,631 shares during the period. Vulcan Materials comprises 0.9% of Principal Financial Group Inc.’s portfolio, making the stock its 19th largest holding. Principal Financial Group Inc.’s holdings in Vulcan Materials were worth $1,559,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of VMC. Ashton Thomas Securities LLC acquired a new stake in shares of Vulcan Materials during the third quarter worth about $30,000. Concord Wealth Partners acquired a new stake in shares of Vulcan Materials during the third quarter worth about $35,000. Washington Trust Advisors Inc. boosted its stake in shares of Vulcan Materials by 240.4% during the third quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock worth $40,000 after buying an additional 113 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Vulcan Materials during the third quarter worth about $42,000. Finally, UMB Bank n.a. boosted its stake in shares of Vulcan Materials by 138.5% during the fourth quarter. UMB Bank n.a. now owns 186 shares of the construction company’s stock worth $48,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

VMC stock opened at $270.58 on Monday. The firm has a 50 day moving average of $267.64 and a 200-day moving average of $261.49. Vulcan Materials has a 12-month low of $225.36 and a 12-month high of $298.31. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The company has a market cap of $35.73 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 2.14 and a beta of 0.84.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.72%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s dividend payout ratio (DPR) is presently 29.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Stephens reiterated an “overweight” rating and set a $325.00 target price on shares of Vulcan Materials in a research note on Thursday, January 2nd. Raymond James reduced their price objective on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. Truist Financial raised their price objective 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. Citigroup reduced their price objective on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Barclays raised their price objective 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. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.18.

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.