State of New Jersey Common Pension Fund D Sells 5,523 Shares of Valmont Industries, Inc. (NYSE:VMI)

State of New Jersey Common Pension Fund D trimmed its position in Valmont Industries, Inc. (NYSE:VMI) by 42.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,460 shares of the industrial products company’s stock after selling 5,523 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Valmont Industries were worth $2,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Valmont Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 2,100,156 shares of the industrial products company’s stock valued at $490,407,000 after buying an additional 54,189 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Valmont Industries by 39.3% during the second quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock worth $71,040,000 after buying an additional 73,084 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Valmont Industries by 15.8% during the 4th quarter. First Trust Advisors LP now owns 227,578 shares of the industrial products company’s stock worth $53,142,000 after purchasing an additional 31,017 shares during the last quarter. Norges Bank bought a new stake in shares of Valmont Industries in the 4th quarter valued at about $49,526,000. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Valmont Industries by 14.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 184,880 shares of the industrial products company’s stock valued at $50,740,000 after purchasing an additional 23,275 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the sale, the chief financial officer now owns 9,471 shares in the company, valued at approximately $2,826,998.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the transaction, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Valmont Industries Trading Down 0.8 %

Shares of NYSE:VMI opened at $282.08 on Friday. Valmont Industries, Inc. has a 12-month low of $188.63 and a 12-month high of $307.67. The business has a 50 day moving average of $281.51 and a 200-day moving average of $254.80. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.70 billion, a PE ratio of 37.16 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.72. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.06 billion. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. As a group, equities research analysts forecast that Valmont Industries, Inc. will post 16.76 earnings per share for the current year.

Valmont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, September 27th. Valmont Industries’s dividend payout ratio is 31.62%.

Analysts Set New Price Targets

Several research firms have issued reports on VMI. DA Davidson upped their price objective on Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus lifted their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Valmont Industries presently has a consensus rating of “Buy” and a consensus price target of $332.50.

About Valmont Industries

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.