Texas Permanent School Fund trimmed its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,724 shares of the industrial products company’s stock after selling 110 shares during the period. Texas Permanent School Fund owned about 0.07% of Valmont Industries worth $2,038,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new position in Valmont Industries in the second quarter valued at $25,000. HM Payson & Co. bought a new position in Valmont Industries in the second quarter valued at $25,000. Point72 Hong Kong Ltd grew its position in Valmont Industries by 57.8% in the second quarter. Point72 Hong Kong Ltd now owns 1,277 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 468 shares in the last quarter. World Asset Management Inc bought a new position in Valmont Industries in the third quarter valued at $216,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Valmont Industries in the third quarter valued at $242,000. Institutional investors and hedge funds own 84.96% of the company’s stock.
A number of research analysts recently weighed in on the stock. Stifel Nicolaus set a $152.00 target price on shares of Valmont Industries and gave the company a “buy” rating in a research report on Friday, October 25th. ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. TheStreet raised shares of Valmont Industries from a “c+” rating to a “b” rating in a research report on Monday, September 16th. DA Davidson decreased their target price on shares of Valmont Industries to $155.00 in a research report on Monday, October 7th. Finally, Zacks Investment Research downgraded shares of Valmont Industries from a “strong-buy” rating to a “hold” rating and set a $144.00 target price for the company. in a research report on Saturday, July 27th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $150.33.
Shares of VMI opened at $142.78 on Friday. The firm has a 50-day moving average of $137.31 and a 200-day moving average of $130.74. Valmont Industries, Inc. has a one year low of $103.01 and a one year high of $147.38. The company has a market cap of $3.13 billion, a PE ratio of 18.84 and a beta of 1.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.62 and a quick ratio of 1.90.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Valmont Industries had a net margin of 4.88% and a return on equity of 15.28%. The firm had revenue of $690.34 million during the quarter, compared to the consensus estimate of $744.84 million. During the same period last year, the business earned $1.82 EPS. The business’s revenue was up 1.7% on a year-over-year basis. Analysts expect that Valmont Industries, Inc. will post 8.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, September 26th. Valmont Industries’s dividend payout ratio (DPR) is presently 19.79%.
Valmont Industries Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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