California Public Employees Retirement System reduced its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,672 shares of the industrial products company's stock after selling 1,460 shares during the period. California Public Employees Retirement System owned 0.19% of Valmont Industries worth $11,860,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the stock. Sunbelt Securities Inc. bought a new position in Valmont Industries in the third quarter worth about $35,000. Point72 Asset Management L.P. bought a new position in shares of Valmont Industries during the 3rd quarter valued at $58,000. Avior Wealth Management LLC raised its holdings in Valmont Industries by 35.9% in the 4th quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company's stock worth $65,000 after acquiring an additional 56 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Valmont Industries by 16.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company's stock worth $76,000 after purchasing an additional 36 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Valmont Industries by 83.4% during the 4th quarter. Venturi Wealth Management LLC now owns 310 shares of the industrial products company's stock valued at $95,000 after acquiring an additional 141 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on VMI shares. William Blair lowered shares of Valmont Industries from an "outperform" rating to a "market perform" rating in a research report on Friday, March 21st. DA Davidson cut shares of Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price target for the company. in a research note on Wednesday, February 19th. Stifel Nicolaus raised their price target on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 29th.
Get Our Latest Report on Valmont Industries
Valmont Industries Price Performance
NYSE VMI traded down $8.63 on Thursday, reaching $276.33. 13,900 shares of the company's stock traded hands, compared to its average volume of 148,556. The stock has a market cap of $5.55 billion, a PE ratio of 16.11 and a beta of 1.07. Valmont Industries, Inc. has a 12 month low of $202.01 and a 12 month high of $379.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55. The stock has a 50-day simple moving average of $317.98 and a 200 day simple moving average of $319.78.
Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.21. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same quarter in the previous year, the firm earned $3.18 EPS. As a group, research analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.
Valmont Industries Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be paid a $0.68 dividend. This is a positive change from Valmont Industries's previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 28th. This represents a $2.72 dividend on an annualized basis and a yield of 0.98%. Valmont Industries's dividend payout ratio (DPR) is presently 15.83%.
About Valmont Industries
(
Free Report)
Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.
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