Retirement Systems of Alabama Lowers Position in Valmont Industries, Inc. $VMI

Retirement Systems of Alabama decreased its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 11.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,569 shares of the industrial products company’s stock after selling 6,710 shares during the period. Retirement Systems of Alabama’s holdings in Valmont Industries were worth $19,607,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Management One Co. Ltd. boosted its holdings in Valmont Industries by 441.2% during the third quarter. Asset Management One Co. Ltd. now owns 4,941 shares of the industrial products company’s stock worth $1,916,000 after purchasing an additional 4,028 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in Valmont Industries by 32.1% in the second quarter. Ensign Peak Advisors Inc now owns 11,001 shares of the industrial products company’s stock worth $3,593,000 after purchasing an additional 2,673 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Valmont Industries during the 2nd quarter valued at $510,000. Covea Finance raised its stake in shares of Valmont Industries by 34.9% during the 3rd quarter. Covea Finance now owns 25,100 shares of the industrial products company’s stock worth $9,732,000 after purchasing an additional 6,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Valmont Industries in the 2nd quarter worth about $47,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Stock Up 1.4%

Valmont Industries stock opened at $446.33 on Tuesday. The firm has a 50 day simple moving average of $416.92 and a 200 day simple moving average of $393.67. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.46. Valmont Industries, Inc. has a 1-year low of $250.07 and a 1-year high of $451.45. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 38.44 and a beta of 1.20.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VMI. Wall Street Zen upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. DA Davidson raised their price target on shares of Valmont Industries from $400.00 to $415.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus upped their price objective on Valmont Industries from $491.00 to $492.00 and gave the company a “buy” rating in a research note on Friday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Valmont Industries in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Valmont Industries currently has a consensus rating of “Moderate Buy” and an average target price of $462.33.

Valmont Industries Profile

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.