New York State Teachers Retirement System Acquires 1,543 Shares of Valmont Industries, Inc. (NYSE:VMI)

New York State Teachers Retirement System boosted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,340 shares of the industrial products company’s stock after acquiring an additional 1,543 shares during the period. New York State Teachers Retirement System owned approximately 0.12% of Valmont Industries worth $7,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new stake in shares of Valmont Industries in the 3rd quarter valued at about $35,000. Exchange Traded Concepts LLC acquired a new stake in shares of Valmont Industries in the 3rd quarter valued at about $39,000. Point72 Asset Management L.P. acquired a new stake in shares of Valmont Industries in the 3rd quarter valued at about $58,000. Signaturefd LLC raised its stake in shares of Valmont Industries by 35.4% in the 3rd quarter. Signaturefd LLC now owns 214 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 56 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of Valmont Industries by 35.9% in the 4th quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 56 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on VMI shares. StockNews.com downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. DA Davidson downgraded Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a research note on Wednesday. Finally, Stifel Nicolaus lifted their target price on Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday.

Valmont Industries Price Performance

NYSE:VMI opened at $366.88 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.55 and a current ratio of 2.35. The stock’s 50-day simple moving average is $323.00 and its 200 day simple moving average is $311.36. The company has a market cap of $7.35 billion, a P/E ratio of 24.92 and a beta of 1.05. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $379.22.

Valmont Industries (NYSE:VMI) last released its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.63 by $0.21. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. During the same quarter in the previous year, the business earned $3.18 earnings per share. As a group, sell-side analysts forecast that Valmont Industries, Inc. will post 16.88 EPS for the current fiscal year.

Valmont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, March 28th. This is an increase from Valmont Industries’s previous quarterly dividend of $0.60. Valmont Industries’s payout ratio is 16.30%.

Insiders Place Their Bets

In other Valmont Industries news, Director Mogens C. Bay sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the transaction, the director now owns 131,730 shares of the company’s stock, valued at $45,963,231.60. The trade was a 13.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

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.