Retirement Systems of Alabama reduced its stake in Valmont Industries, Inc. (NYSE:VMI) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,907 shares of the industrial products company’s stock after selling 1,956 shares during the quarter. Retirement Systems of Alabama owned about 0.29% of Valmont Industries worth $7,090,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in VMI. King Luther Capital Management Corp raised its position in Valmont Industries by 50.0% during the 3rd quarter. King Luther Capital Management Corp now owns 392,642 shares of the industrial products company’s stock worth $54,381,000 after buying an additional 130,830 shares during the last quarter. Cambiar Investors LLC purchased a new position in Valmont Industries during the 3rd quarter worth approximately $5,032,000. Janus Henderson Group PLC raised its position in Valmont Industries by 13.7% during the 3rd quarter. Janus Henderson Group PLC now owns 293,202 shares of the industrial products company’s stock worth $40,608,000 after buying an additional 35,422 shares during the last quarter. BlackRock Inc. raised its position in Valmont Industries by 1.6% during the 2nd quarter. BlackRock Inc. now owns 1,906,460 shares of the industrial products company’s stock worth $287,400,000 after buying an additional 29,191 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Valmont Industries by 25.2% during the 3rd quarter. First Trust Advisors LP now owns 111,391 shares of the industrial products company’s stock worth $15,428,000 after buying an additional 22,413 shares during the last quarter. 87.66% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Saturday. ValuEngine cut shares of Valmont Industries from a “hold” rating to a “sell” rating in a research note on Saturday, January 5th. TheStreet cut shares of Valmont Industries from a “b-” rating to a “c+” rating in a research note on Thursday, October 4th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Valmont Industries in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $173.33.
Shares of NYSE VMI opened at $118.14 on Monday. The company has a market cap of $2.53 billion, a PE ratio of 16.95, a PEG ratio of 1.39 and a beta of 1.13. Valmont Industries, Inc. has a 12 month low of $103.01 and a 12 month high of $171.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.40 and a current ratio of 3.40.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.04. The business had revenue of $678.63 million for the quarter, compared to analysts’ expectations of $677.34 million. Valmont Industries had a net margin of 2.63% and a return on equity of 14.39%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the company earned $1.56 EPS. As a group, analysts forecast that Valmont Industries, Inc. will post 7.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 28th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.27%. Valmont Industries’s payout ratio is 21.52%.
Valmont Industries announced that its Board of Directors has approved a share repurchase program on Wednesday, October 31st that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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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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