Louisiana State Employees Retirement System decreased its position in Valmont Industries Inc. (NYSE:VMI) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Valmont Industries were worth $812,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its position in shares of Valmont Industries by 69.6% in the second quarter. LS Investment Advisors LLC now owns 1,389 shares of the company’s stock valued at $188,000 after buying an additional 570 shares in the last quarter. Invictus RG raised its position in shares of Valmont Industries by 229.1% in the first quarter. Invictus RG now owns 1,639 shares of the company’s stock valued at $203,000 after buying an additional 1,141 shares in the last quarter. Aperio Group LLC raised its position in shares of Valmont Industries by 20.0% in the first quarter. Aperio Group LLC now owns 2,465 shares of the company’s stock valued at $305,000 after buying an additional 411 shares in the last quarter. CIBC World Markets Inc. raised its position in shares of Valmont Industries by 2.4% in the first quarter. CIBC World Markets Inc. now owns 4,465 shares of the company’s stock valued at $553,000 after buying an additional 106 shares in the last quarter. Finally, BlueMountain Capital Management LLC bought a new position in shares of Valmont Industries during the first quarter valued at approximately $603,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.
Shares of Valmont Industries Inc. (NYSE:VMI) traded down 1.94% during trading on Friday, hitting $128.90. 131,204 shares of the stock were exchanged. The stock has a market cap of $2.92 billion, a PE ratio of 52.42 and a beta of 0.97. Valmont Industries Inc. has a one year low of $96.49 and a one year high of $145.94. The stock’s 50 day moving average price is $130.94 and its 200 day moving average price is $131.57.
Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.12. The business had revenue of $640.20 million for the quarter, compared to analyst estimates of $648.54 million. Valmont Industries had a return on equity of 13.91% and a net margin of 2.26%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 EPS. Equities research analysts predict that Valmont Industries Inc. will post $6.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, September 28th. Valmont Industries’s dividend payout ratio is currently 60.48%.
VMI has been the topic of several recent analyst reports. TheStreet upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a research note on Monday, July 11th. Zacks Investment Research upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Credit Suisse Group AG reiterated an “underperform” rating on shares of Valmont Industries in a research note on Wednesday, July 6th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $124.67.
In related news, Director Clark T. Jr. Randt sold 381 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $130.10, for a total transaction of $49,568.10. Following the transaction, the director now directly owns 6,979 shares of the company’s stock, valued at approximately $907,967.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by insiders.
Valmont Industries Company Profile
Valmont Industries, Inc is a producer of fabricated metal products. The Company’s Engineered Support Structures segment manufactures and distributes engineered metal and composite structures and components for global lighting and traffic, wireless communication, and roadway safety. The Utility Support Structures segment manufactures engineered steel and concrete structures for the utility industry.
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