Public Employees Retirement System of Ohio Acquires Shares of 6,682 Valmont Industries, Inc. $VMI

Key Points

• Public Employees Retirement System of Ohio acquired 6,682 Valmont Industries shares worth approximately $3.86 million in the second quarter. Institutional investors collectively own 87.84% of the company.
• Analysts maintain a “Moderate Buy” consensus on VMI, with four Buy ratings and two Holds and an average price target of $587.00. Stifel Nicolaus recently raised its target to $678.
• Valmont reported quarterly EPS of $6.14, exceeding estimates by $0.34, while revenue rose 6.5% year over year to $1.12 billion. The company also declared a quarterly dividend of $0.77 per share, equivalent to a 0.6% yield.

Public Employees Retirement System of Ohio purchased a new position in Valmont Industries, Inc. (NYSE:VMI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,682 shares of the industrial products company's stock, valued at approximately $3,860,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Valmont Industries in the 2nd quarter worth approximately $1,141,369,000. Invesco Ltd. raised its stake in Valmont Industries by 8.3% during the third quarter. Invesco Ltd. now owns 422,997 shares of the industrial products company's stock valued at $164,009,000 after buying an additional 32,382 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Valmont Industries by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 369,059 shares of the industrial products company's stock worth $148,509,000 after acquiring an additional 12,480 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Valmont Industries in the second quarter worth $175,408,000. Finally, Sei Investments Co. increased its holdings in shares of Valmont Industries by 3.1% during the third quarter. Sei Investments Co. now owns 290,948 shares of the industrial products company's stock valued at $112,809,000 after acquiring an additional 8,715 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VMI shares. Weiss Ratings raised Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Wall Street Zen downgraded shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Stifel Nicolaus increased their price target on shares of Valmont Industries from $645.00 to $678.00 and gave the company a "buy" rating in a report on Monday, July 20th. Zacks Research lowered Valmont Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Finally, Oppenheimer set a $600.00 target price on shares of Valmont Industries and gave the company an "outperform" rating in a research note on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $587.00.

Insiders Place Their Bets

In related news, CFO John L. Schwietz purchased 208 shares of the business's stock in a transaction on Thursday, July 23rd. The stock was acquired at an average price of $486.14 per share, with a total value of $101,117.12. Following the completion of the acquisition, the chief financial officer owned 2,992 shares of the company's stock, valued at approximately $1,454,530.88. This trade represents a 7.47% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Theodor Freye sold 800 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the sale, the director owned 2,805 shares of the company's stock, valued at approximately $1,388,475. The trade was a 22.19% decrease in their position. The SEC filing for this sale provides additional information. 1.42% of the stock is currently owned by company insiders.

Valmont Industries Price Performance

Shares of NYSE:VMI opened at $475.12 on Friday. The firm's 50 day moving average price is $507.42 and its 200-day moving average price is $486.25. Valmont Industries, Inc. has a twelve month low of $361.50 and a twelve month high of $585.71. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $9.17 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.06 and a beta of 1.34.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business posted $4.88 earnings per share. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that Valmont Industries, Inc. will post 23.08 EPS for the current year.

Valmont Industries Announces Dividend

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

Valmont Industries Profile

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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