Principal Financial Group Inc. Decreases Stake in Vulcan Materials Company $VMC

Key Points

• Principal Financial Group cut its stake in Vulcan Materials by 5.1% in Q4, selling 387,965 shares and now holds 7,237,306 shares (about 5.48% ownership) valued at roughly $2.06 billion, making VMC its 14th-largest position.
• Vulcan Materials beat quarterly expectations with $1.35 EPS versus $1.10 expected and $1.76 billion in revenue (up 7.4% year-over-year), and analysts project about $9.28 in EPS for the current year.
• The company increased its quarterly dividend to $0.52 (annualized $2.08, ~0.7% yield) and carries a consensus rating of Moderate Buy with an average target price of $329.62 (8 Buys, 6 Holds).

Principal Financial Group Inc. reduced its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 5.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,237,306 shares of the construction company's stock after selling 387,965 shares during the period. Vulcan Materials makes up about 1.1% of Principal Financial Group Inc.'s holdings, making the stock its 14th largest position. Principal Financial Group Inc. owned about 5.48% of Vulcan Materials worth $2,064,241,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in VMC. Brighton Jones LLC acquired a new position in shares of Vulcan Materials during the 4th quarter worth $497,000. NewEdge Advisors LLC raised its stake in shares of Vulcan Materials by 3.9% during the 1st quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company's stock worth $1,017,000 after buying an additional 163 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Vulcan Materials by 6.3% during the 1st quarter. Empowered Funds LLC now owns 3,195 shares of the construction company's stock worth $745,000 after buying an additional 190 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Vulcan Materials by 28.5% during the 1st quarter. Focus Partners Wealth now owns 3,321 shares of the construction company's stock worth $775,000 after buying an additional 736 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Vulcan Materials by 31.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company's stock worth $78,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Stock Down 3.3%

VMC opened at $287.45 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. The stock has a market capitalization of $37.30 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 2.16 and a beta of 1.09. The business has a 50-day moving average of $284.44 and a two-hundred day moving average of $292.83. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.10 by $0.25. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The firm's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. On average, research analysts expect that Vulcan Materials Company will post 9.28 earnings per share for the current year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were issued a $0.52 dividend. This is a positive change from Vulcan Materials's previous quarterly dividend of $0.49. The ex-dividend date was Monday, March 9th. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is presently 24.73%.

Analyst Ratings Changes

Several research firms have recently issued reports on VMC. B. Riley Financial began coverage on Vulcan Materials in a research note on Thursday, January 15th. They set a "buy" rating and a $345.00 price target for the company. Barclays lifted their price target on Vulcan Materials from $296.00 to $340.00 and gave the stock an "overweight" rating in a research note on Thursday. DA Davidson cut their price target on Vulcan Materials from $330.00 to $320.00 and set a "neutral" rating for the company in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. Finally, Royal Bank Of Canada lifted their price target on Vulcan Materials from $296.00 to $298.00 and gave the stock a "sector perform" rating in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $329.62.

Insider Buying and Selling

In other Vulcan Materials news, Director Melissa H. Anderson sold 1,137 shares of Vulcan Materials stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $303.72, for a total value of $345,329.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is owned by company insiders.

Vulcan Materials Company Profile

Vulcan Materials Company NYSE: VMC is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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