Retirement Systems of Alabama Sells 73 Shares of Valmont Industries, Inc. (NYSE:VMI)

Retirement Systems of Alabama lowered its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 26,165 shares of the industrial products company’s stock after selling 73 shares during the quarter. Retirement Systems of Alabama’s holdings in Valmont Industries were worth $6,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of Valmont Industries by 18.6% during the 4th quarter. Nordea Investment Management AB now owns 12,189 shares of the industrial products company’s stock worth $2,863,000 after purchasing an additional 1,911 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Valmont Industries by 97.4% during the 3rd quarter. Hsbc Holdings PLC now owns 15,703 shares of the industrial products company’s stock worth $3,807,000 after purchasing an additional 7,749 shares in the last quarter. Hamel Associates Inc. raised its stake in shares of Valmont Industries by 1.2% during the 3rd quarter. Hamel Associates Inc. now owns 22,607 shares of the industrial products company’s stock worth $5,430,000 after purchasing an additional 260 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Valmont Industries by 21.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,622 shares of the industrial products company’s stock worth $379,000 after purchasing an additional 281 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Valmont Industries by 19.5% during the 4th quarter. Fifth Third Bancorp now owns 454 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Up 0.7 %

VMI opened at $246.21 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.56 and a debt-to-equity ratio of 0.79. The stock’s fifty day simple moving average is $216.97 and its 200 day simple moving average is $220.37. Valmont Industries, Inc. has a 1-year low of $188.63 and a 1-year high of $303.57. The stock has a market cap of $4.98 billion, a PE ratio of 32.44 and a beta of 1.05.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $1.08. Valmont Industries had a return on equity of 22.14% and a net margin of 3.83%. The firm had revenue of $977.83 million for the quarter, compared to analyst estimates of $986.98 million. During the same period in the prior year, the firm posted $3.54 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, research analysts expect that Valmont Industries, Inc. will post 15.9 earnings per share for the current year.

Valmont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Valmont Industries’s dividend payout ratio is 31.62%.

Wall Street Analyst Weigh In

VMI has been the topic of a number of research analyst reports. StockNews.com upgraded Valmont Industries from a “hold” rating to a “buy” rating in a research note on Saturday, March 23rd. Stifel Nicolaus restated a “buy” rating and issued a $249.00 price target on shares of Valmont Industries in a research note on Monday, March 25th. Finally, DA Davidson dropped their price target on Valmont Industries from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $262.00.

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.