State of Alaska Department of Revenue Raises Stock Position in Valmont Industries, Inc. (NYSE:VMI)

State of Alaska Department of Revenue boosted its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,347 shares of the industrial products company’s stock after purchasing an additional 60 shares during the period. State of Alaska Department of Revenue’s holdings in Valmont Industries were worth $669,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VMI. Norges Bank acquired a new stake in shares of Valmont Industries during the fourth quarter valued at about $67,822,000. Franklin Resources Inc. increased its position in shares of Valmont Industries by 23.3% during the fourth quarter. Franklin Resources Inc. now owns 502,192 shares of the industrial products company’s stock valued at $154,007,000 after acquiring an additional 94,884 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Valmont Industries by 51,911.3% during the first quarter. GAMMA Investing LLC now owns 64,494 shares of the industrial products company’s stock valued at $18,405,000 after acquiring an additional 64,370 shares during the last quarter. US Bancorp DE increased its position in shares of Valmont Industries by 2,077.0% during the fourth quarter. US Bancorp DE now owns 58,779 shares of the industrial products company’s stock valued at $18,026,000 after acquiring an additional 56,079 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Valmont Industries during the fourth quarter valued at about $14,180,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Trading Up 0.1%

Shares of VMI stock opened at $333.60 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.50 and a current ratio of 2.26. The stock has a market capitalization of $6.70 billion, a P/E ratio of 19.42 and a beta of 1.13. The company has a 50 day moving average price of $313.84 and a 200 day moving average price of $315.16. Valmont Industries, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $379.22.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.08. The firm had revenue of $969.31 million during the quarter, compared to analysts’ expectations of $976.04 million. Valmont Industries had a net margin of 8.55% and a return on equity of 22.27%. Equities research analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, June 27th. Valmont Industries’s dividend payout ratio (DPR) is presently 15.83%.

Wall Street Analysts Forecast Growth

VMI has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. William Blair upgraded shares of Valmont Industries from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Valmont Industries from $343.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd.

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.