Valmont Industries, Inc. (NYSE:VMI) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in Valmont Industries, Inc. (NYSE:VMI) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,297 shares of the industrial products company’s stock after selling 600 shares during the period. New York State Teachers Retirement System owned approximately 0.12% of Valmont Industries worth $5,674,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in VMI. Sound Income Strategies LLC acquired a new stake in shares of Valmont Industries in the 4th quarter worth $29,000. First Horizon Advisors Inc. lifted its stake in shares of Valmont Industries by 360.0% in the third quarter. First Horizon Advisors Inc. now owns 138 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 108 shares during the period. Covestor Ltd lifted its stake in shares of Valmont Industries by 347.4% in the first 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 period. Fred Alger Management LLC lifted its stake in shares of 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 stake in shares of Valmont Industries in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a research note on Saturday, March 23rd. DA Davidson reduced their price objective on shares of Valmont Industries from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $249.00 price objective on shares of Valmont Industries in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $262.00.

Valmont Industries Stock Performance

NYSE:VMI opened at $217.40 on Friday. 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 firm has a 50-day moving average price of $221.14 and a two-hundred day moving average price of $222.47. Valmont Industries, Inc. has a twelve month low of $188.63 and a twelve month high of $315.88. The company has a market capitalization of $4.40 billion, a P/E ratio of 32.26 and a beta of 1.03.

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

Valmont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.10%. Valmont Industries’s dividend payout ratio (DPR) is presently 35.61%.

Valmont Industries 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.