California State Teachers Retirement System Buys 4,317 Shares of Valmont Industries, Inc. $VMI

Key Points

• California State Teachers Retirement System increased its Valmont Industries stake by 22.8%, purchasing 4,317 shares to own 23,214 shares valued at approximately $9.3 million. Institutional investors and hedge funds collectively own 87.84% of VMI.
• Valmont reported quarterly earnings of $6.14 per share, exceeding the $5.80 consensus estimate, while revenue rose 6.5% year over year to $1.12 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $587.
• The company declared a quarterly dividend of $0.77 per share, equivalent to $3.08 annually and a 0.6% yield. Insider activity was mixed, with a director selling shares while the CFO purchased 208 shares.

California State Teachers Retirement System lifted its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 22.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,214 shares of the industrial products company's stock after acquiring an additional 4,317 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Valmont Industries worth $9,276,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Millennium Management LLC increased its position in shares of Valmont Industries by 225.1% during the 1st quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company's stock worth $19,300,000 after purchasing an additional 46,825 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Valmont Industries by 8.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company's stock valued at $16,873,000 after buying an additional 4,676 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Valmont Industries in the 1st quarter valued at approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Valmont Industries by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company's stock valued at $20,692,000 after buying an additional 2,639 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Valmont Industries by 223.4% in the first quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company's stock valued at $43,000 after buying an additional 105 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Valmont Industries Stock Up 1.6%

Shares of VMI opened at $489.32 on Tuesday. Valmont Industries, Inc. has a 52 week low of $358.95 and a 52 week high of $585.71. The firm has a market cap of $9.45 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.10 and a beta of 1.35. The firm's 50-day simple moving average is $535.17 and its 200 day simple moving average is $480.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.35.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.34. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business posted $4.88 earnings per share. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts forecast that Valmont Industries, Inc. will post 22.96 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, September 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. Valmont Industries's dividend payout ratio (DPR) is 11.99%.

Insider Activity at Valmont Industries

In other Valmont Industries news, Director Theodor Werner Freye sold 800 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $495.00, for a total transaction of $396,000.00. Following the transaction, the director owned 2,805 shares in the company, valued at $1,388,475. This trade represents a 22.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John L. Schwietz acquired 208 shares of the stock in a transaction on Thursday, July 23rd. The shares were purchased at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the transaction, the chief financial officer directly owned 2,992 shares in the company, valued at approximately $1,454,530.88. This trade represents a 7.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.42% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on VMI. Weiss Ratings raised shares of Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Wall Street Zen upgraded Valmont Industries from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 18th. Stifel Nicolaus upped their price objective on Valmont Industries from $645.00 to $678.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Finally, Oppenheimer set a $600.00 price objective on Valmont Industries and gave the company an "outperform" rating in a research report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Valmont Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $587.00.

About Valmont Industries

Valmont Industries, Inc NYSE: VMI is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont's solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.

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