Valmont Industries, Inc. (VMI) Position Increased by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System boosted its stake in Valmont Industries, Inc. (NYSE:VMI) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,392 shares of the industrial products company’s stock after acquiring an additional 968 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of Valmont Industries worth $4,397,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its holdings in Valmont Industries by 13.2% in the first quarter. UBS Asset Management Americas Inc. now owns 22,463 shares of the industrial products company’s stock valued at $3,493,000 after acquiring an additional 2,611 shares in the last quarter. Legal & General Group Plc boosted its holdings in Valmont Industries by 54.6% in the first quarter. Legal & General Group Plc now owns 22,867 shares of the industrial products company’s stock valued at $3,555,000 after acquiring an additional 8,076 shares in the last quarter. Morgan Stanley boosted its holdings in Valmont Industries by 78.1% in the first quarter. Morgan Stanley now owns 142,825 shares of the industrial products company’s stock valued at $22,209,000 after acquiring an additional 62,613 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in Valmont Industries in the first quarter valued at $715,000. Finally, Robecosam AG boosted its holdings in Valmont Industries by 31.7% in the first quarter. Robecosam AG now owns 118,222 shares of the industrial products company’s stock valued at $18,200,000 after acquiring an additional 28,469 shares in the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.
Several analysts recently weighed in on VMI shares. Zacks Investment Research cut shares of Valmont Industries from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. BidaskClub upgraded shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $171.00 price target on shares of Valmont Industries in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $165.33.
Valmont Industries, Inc. (NYSE VMI) opened at 145.20 on Friday. Valmont Industries, Inc. has a 12 month low of $120.65 and a 12 month high of $165.20. The firm’s 50-day moving average price is $149.17 and its 200 day moving average price is $150.77. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 17.99 and a beta of 0.98.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.05. The company had revenue of $712.70 million for the quarter, compared to the consensus estimate of $668.06 million. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. Valmont Industries’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.85 EPS. On average, analysts anticipate that Valmont Industries, Inc. will post $7.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, September 28th. Valmont Industries’s payout ratio is 18.59%.
About Valmont Industries
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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