Vulcan Materials Company $VMC Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,625,271 shares of the construction company’s stock after buying an additional 414,828 shares during the quarter. Vulcan Materials comprises approximately 1.2% of Principal Financial Group Inc.’s portfolio, making the stock its 15th biggest holding. Principal Financial Group Inc. owned approximately 5.77% of Vulcan Materials worth $2,345,703,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp purchased a new position in shares of Vulcan Materials during the 2nd quarter worth about $32,000. Concord Wealth Partners purchased a new stake in Vulcan Materials in the second quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Vulcan Materials during the third quarter worth approximately $42,000. Bayforest Capital Ltd purchased a new position in Vulcan Materials during the third quarter worth approximately $46,000. Finally, Clearstead Trust LLC raised its stake in Vulcan Materials by 71.7% during the second quarter. Clearstead Trust LLC now owns 218 shares of the construction company’s stock worth $57,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Activity

In other news, SVP David P. Clement sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $288.55, for a total transaction of $577,100.00. Following the transaction, the senior vice president directly owned 832 shares of the company’s stock, valued at approximately $240,073.60. The trade was a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Thompson S. Baker II sold 7,135 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $300.81, for a total transaction of $2,146,279.35. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,471 shares of company stock worth $6,054,615 over the last 90 days. Company insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. DA Davidson restated a “neutral” rating and set a $330.00 price objective on shares of Vulcan Materials in a report on Wednesday, January 14th. Wells Fargo & Company boosted their price target on Vulcan Materials from $310.00 to $317.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Raymond James Financial lifted their price objective on Vulcan Materials from $295.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Barclays increased their target price on shares of Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $320.38.

Vulcan Materials Trading Up 0.4%

Shares of VMC opened at $300.67 on Friday. Vulcan Materials Company has a 12 month low of $215.08 and a 12 month high of $313.37. The stock’s 50-day moving average is $296.09 and its two-hundred day moving average is $292.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.23 and a quick ratio of 1.56. The stock has a market cap of $39.73 billion, a PE ratio of 35.71, a P/E/G ratio of 2.24 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Thursday, October 30th. The construction company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.72 by $0.12. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Vulcan Materials had a return on equity of 13.47% and a net margin of 14.19%.The company’s revenue was up 14.4% on a year-over-year basis. During the same period last year, the business posted $2.22 EPS. Equities analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

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.