New York State Common Retirement Fund Lowers Holdings in Valmont Industries, Inc. (NYSE:VMI)

New York State Common Retirement Fund reduced its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,726 shares of the industrial products company’s stock after selling 800 shares during the quarter. New York State Common Retirement Fund owned about 0.05% of Valmont Industries worth $3,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in VMI. State Street Corp boosted its position in shares of Valmont Industries by 1.1% during the third quarter. State Street Corp now owns 640,876 shares of the industrial products company’s stock worth $186,204,000 after acquiring an additional 6,913 shares during the last quarter. Franklin Resources Inc. lifted its stake in Valmont Industries by 57.6% in the 3rd quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock worth $123,512,000 after purchasing an additional 148,811 shares in the last quarter. FMR LLC boosted its holdings in shares of Valmont Industries by 4.0% during the 3rd quarter. FMR LLC now owns 349,426 shares of the industrial products company’s stock valued at $101,316,000 after purchasing an additional 13,509 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Valmont Industries by 1.5% during the third quarter. Geode Capital Management LLC now owns 335,926 shares of the industrial products company’s stock valued at $97,428,000 after purchasing an additional 4,940 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Valmont Industries by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 292,901 shares of the industrial products company’s stock worth $84,927,000 after purchasing an additional 24,224 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Valmont Industries

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

Valmont Industries Stock Up 1.4 %

Shares of NYSE:VMI opened at $347.48 on Friday. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 20.23 and a beta of 1.05. Valmont Industries, Inc. has a 12 month low of $202.01 and a 12 month high of $379.22. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $327.03 and a 200 day moving average price of $314.52.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.63 by $0.21. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same period last year, the company earned $3.18 EPS. As a group, equities research analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.78%. This is a positive change from Valmont Industries’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 28th. Valmont Industries’s payout ratio is presently 15.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VMI shares. DA Davidson lowered Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research note on Wednesday, February 19th. Stifel Nicolaus increased 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, February 19th. Finally, StockNews.com cut shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th.

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.