State Board of Administration of Florida Retirement System lifted its holdings in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,496 shares of the industrial products company’s stock after acquiring an additional 220 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.10% of Valmont Industries worth $6,863,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Versor Investments LP acquired a new position in Valmont Industries during the 1st quarter worth about $543,000. Barclays PLC lifted its holdings in Valmont Industries by 33.4% during the 1st quarter. Barclays PLC now owns 8,564 shares of the industrial products company’s stock worth $2,734,000 after buying an additional 2,144 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Valmont Industries by 33.3% during the 1st quarter. Van ECK Associates Corp now owns 408 shares of the industrial products company’s stock worth $130,000 after buying an additional 102 shares in the last quarter. Amalgamated Bank lifted its holdings in Valmont Industries by 8.9% during the 4th quarter. Amalgamated Bank now owns 16,727 shares of the industrial products company’s stock worth $5,531,000 after buying an additional 1,364 shares in the last quarter. Finally, Prostatis Group LLC lifted its holdings in Valmont Industries by 23.1% during the 4th quarter. Prostatis Group LLC now owns 106,806 shares of the industrial products company’s stock worth $107,000 after buying an additional 20,042 shares in the last quarter. 84.15% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. DA Davidson cut their target price on shares of Valmont Industries from $310.00 to $290.00 and set a “neutral” rating on the stock in a research report on Monday, July 31st. StockNews.com assumed coverage on shares of Valmont Industries in a research report on Thursday, August 17th. They set a “buy” rating on the stock.
Valmont Industries Stock Performance
VMI stock opened at $243.20 on Tuesday. The company has a market cap of $5.11 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 1.31 and a beta of 1.09. The business’s fifty day moving average is $256.83 and its 200-day moving average is $280.70. The company has a quick ratio of 1.43, a current ratio of 2.41 and a debt-to-equity ratio of 0.57. Valmont Industries, Inc. has a twelve month low of $236.98 and a twelve month high of $353.36.
Valmont Industries (NYSE:VMI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.26. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.14 billion. Valmont Industries had a net margin of 6.37% and a return on equity of 19.56%. Equities research analysts forecast that Valmont Industries, Inc. will post 15.4 EPS for the current year.
Valmont Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, September 28th. Valmont Industries’s payout ratio is presently 18.63%.
Valmont Industries Company Profile
Valmont Industries, Inc produces and sells metal products in the United States, Australia, Brazil, Denmark, and internationally. The company operates through two segments: Infrastructure and Agriculture. It manufactures and distributes steel, pre-stressed concrete, composite, and hybrid structures for lighting, transportation, and telecommunications equipment, as well as electrical transmission, distribution, substations, and renewable energy generation equipment; and provides coatings services to preserve metal products.
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