California Public Employees Retirement System boosted its position in Valmont Industries, Inc. (NYSE:VMI) by 9.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,679 shares of the industrial products company’s stock after acquiring an additional 5,606 shares during the period. California Public Employees Retirement System’s holdings in Valmont Industries were worth $9,600,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Robecosam AG lifted its position in shares of Valmont Industries by 81.0% in the 1st quarter. Robecosam AG now owns 143,880 shares of the industrial products company’s stock worth $21,050,000 after purchasing an additional 64,402 shares during the period. BlackRock Inc. lifted its position in shares of Valmont Industries by 2.9% in the 1st quarter. BlackRock Inc. now owns 1,877,269 shares of the industrial products company’s stock worth $274,645,000 after purchasing an additional 52,961 shares during the period. King Luther Capital Management Corp lifted its position in shares of Valmont Industries by 18.8% in the 2nd quarter. King Luther Capital Management Corp now owns 261,812 shares of the industrial products company’s stock worth $39,468,000 after purchasing an additional 41,490 shares during the period. Tygh Capital Management Inc. purchased a new stake in shares of Valmont Industries in the 2nd quarter worth about $6,102,000. Finally, KBC Group NV lifted its position in shares of Valmont Industries by 28.8% in the 2nd quarter. KBC Group NV now owns 140,825 shares of the industrial products company’s stock worth $21,229,000 after purchasing an additional 31,481 shares during the period. 87.46% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP John A. Kehoe sold 3,059 shares of Valmont Industries stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $137.50, for a total transaction of $420,612.50. Following the completion of the transaction, the senior vice president now directly owns 2,911 shares of the company’s stock, valued at approximately $400,262.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.00% of the company’s stock.
VMI has been the subject of several research analyst reports. TheStreet cut shares of Valmont Industries from a “b-” rating to a “c+” rating in a research report on Thursday. Zacks Investment Research raised shares of Valmont Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 11th. ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Stifel Nicolaus raised their target price on shares of Valmont Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Finally, Boenning Scattergood cut shares of Valmont Industries from an “outperform” rating to a “neutral” rating in a research report on Friday, July 13th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Valmont Industries currently has an average rating of “Hold” and an average price target of $173.33.
NYSE:VMI opened at $136.50 on Monday. Valmont Industries, Inc. has a 12 month low of $135.00 and a 12 month high of $176.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.83 and a quick ratio of 2.20. The stock has a market capitalization of $3.10 billion, a PE ratio of 19.58, a P/E/G ratio of 1.97 and a beta of 1.00.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Monday, July 23rd. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.04. Valmont Industries had a net margin of 3.74% and a return on equity of 13.89%. The company had revenue of $682.41 million during the quarter, compared to analysts’ expectations of $709.92 million. During the same period last year, the company posted $2.01 EPS. As a group, research analysts forecast that Valmont Industries, Inc. will post 7.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a dividend of $0.375 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.50 dividend on an annualized basis and a yield of 1.10%. Valmont Industries’s dividend payout ratio (DPR) is currently 21.52%.
Valmont Industries Company Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
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