State of Alaska Department of Revenue Buys 1,515 Shares of Valmont Industries, Inc. (NYSE:VMI)

State of Alaska Department of Revenue boosted its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 64.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,850 shares of the industrial products company’s stock after purchasing an additional 1,515 shares during the quarter. State of Alaska Department of Revenue’s holdings in Valmont Industries were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Impax Asset Management Group plc lifted its holdings in shares of Valmont Industries by 20.4% during the second quarter. Impax Asset Management Group plc now owns 885,612 shares of the industrial products company’s stock worth $112,304,000 after purchasing an additional 150,115 shares during the period. Fiduciary Management Inc. WI increased its position in shares of Valmont Industries by 16.2% during the second quarter. Fiduciary Management Inc. WI now owns 469,979 shares of the industrial products company’s stock worth $59,598,000 after purchasing an additional 65,546 shares in the last quarter. Invesco Ltd. increased its position in shares of Valmont Industries by 123.4% during the second quarter. Invesco Ltd. now owns 435,858 shares of the industrial products company’s stock worth $55,271,000 after purchasing an additional 240,714 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of Valmont Industries by 17.8% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 358,934 shares of the industrial products company’s stock worth $280,630,000 after purchasing an additional 54,327 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Valmont Industries by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 275,743 shares of the industrial products company’s stock worth $34,967,000 after purchasing an additional 4,253 shares in the last quarter. 84.96% of the stock is owned by institutional investors and hedge funds.

Several analysts recently commented on VMI shares. ValuEngine upgraded Valmont Industries from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Zacks Investment Research cut Valmont Industries from a “strong-buy” rating to a “hold” rating and set a $144.00 price target for the company. in a research report on Saturday, July 27th. DA Davidson lowered their price objective on Valmont Industries to $155.00 in a research note on Monday, October 7th. TheStreet raised Valmont Industries from a “c+” rating to a “b” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus set a $152.00 price target on Valmont Industries and gave the company a “buy” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Valmont Industries has a consensus rating of “Hold” and an average price target of $150.33.

Shares of Valmont Industries stock traded down $2.18 during trading hours on Friday, hitting $142.78. The company’s stock had a trading volume of 75,782 shares, compared to its average volume of 137,472. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.90 and a current ratio of 2.62. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 18.84 and a beta of 1.42. Valmont Industries, Inc. has a twelve month low of $103.01 and a twelve month high of $147.38. The firm has a fifty day moving average of $137.31 and a 200-day moving average of $130.74.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.30 by ($0.45). The firm had revenue of $690.34 million during the quarter, compared to analysts’ expectations of $744.84 million. Valmont Industries had a net margin of 4.88% and a return on equity of 15.28%. Valmont Industries’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.82 EPS. On average, sell-side analysts expect that Valmont Industries, Inc. will post 8.1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were issued a dividend of $0.375 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.50 annualized dividend and a yield of 1.05%. Valmont Industries’s dividend payout ratio (DPR) is 19.79%.

About Valmont Industries

Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.

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Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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