Arizona State Retirement System Trims Stake in Valmont Industries, Inc. (NYSE:VMI)

Arizona State Retirement System cut its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,874 shares of the industrial products company’s stock after selling 122 shares during the quarter. Arizona State Retirement System’s holdings in Valmont Industries were worth $1,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of VMI. Sound Income Strategies LLC purchased a new position in Valmont Industries during the fourth quarter worth about $29,000. First Horizon Advisors Inc. boosted its position in shares of Valmont Industries by 360.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 138 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 108 shares during the period. Covestor Ltd increased its holdings in Valmont Industries by 347.4% in the 1st quarter. Covestor Ltd now owns 170 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 132 shares during the last quarter. Fred Alger Management LLC raised its position in Valmont Industries by 103.2% in the fourth quarter. Fred Alger Management LLC now owns 128 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 65 shares during the period. Finally, AdvisorNet Financial Inc acquired a new position in Valmont Industries during the fourth quarter worth $44,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Trading Down 2.1 %

NYSE:VMI opened at $217.40 on Friday. Valmont Industries, Inc. has a 12-month low of $188.63 and a 12-month high of $315.88. The firm has a market cap of $4.40 billion, a PE ratio of 32.26 and a beta of 1.03. The company has a current ratio of 2.47, a quick ratio of 1.56 and a debt-to-equity ratio of 0.82. The stock has a fifty day moving average price of $221.14 and a 200 day moving average price of $222.47.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.10. Valmont Industries had a return on equity of 20.69% and a net margin of 3.44%. The business had revenue of $1,000.00 million during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $3.46 EPS. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Valmont Industries, Inc. will post 14.75 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 27th. Valmont Industries’s payout ratio is 35.61%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VMI shares. DA Davidson cut their price objective on Valmont Industries from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Stifel Nicolaus reissued a “buy” rating and issued a $249.00 price objective on shares of Valmont Industries in a research note on Monday, March 25th. Finally, StockNews.com upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 23rd. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Valmont Industries currently has an average rating of “Moderate Buy” and an average price target of $262.00.

Valmont Industries Company Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.