Valmont Industries, Inc. $VMI Stock Holdings Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems increased its Valmont Industries stake by 62.5% in the third quarter, bringing its holdings to 11,540 shares valued at approximately $5.34 million. Institutional investors and hedge funds collectively own 87.84% of the company.
• Valmont reported quarterly earnings of $6.24 per share, exceeding estimates of $5.70, while revenue rose 5.5% year over year to $1.10 billion. Shares recently traded at $421.62, down slightly.
• The company declared a quarterly dividend of $0.77 per share, equal to an annualized $3.08 dividend and a 0.7% yield. Analyst sentiment remains a “Moderate Buy,” with an average price target of $587, despite several recent downgrades to “Hold.”

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 62.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,540 shares of the industrial products company's stock after acquiring an additional 4,440 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.06% of Valmont Industries worth $5,343,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in Valmont Industries during the second quarter valued at approximately $28,000. Elevation Wealth Partners LLC increased its stake in Valmont Industries by 179.2% in the second quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 43 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Valmont Industries in the first quarter worth $37,000. Root Financial Partners LLC bought a new position in shares of Valmont Industries during the third quarter worth $51,000. Finally, State of Wyoming grew its holdings in shares of Valmont Industries by 98.8% in the 1st quarter. State of Wyoming now owns 169 shares of the industrial products company's stock valued at $68,000 after buying an additional 84 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Valmont Industries Trading Down 0.1%

Shares of Valmont Industries stock opened at $421.62 on Monday. The stock has a market cap of $8.07 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.95 and a beta of 1.39. The company has a quick ratio of 1.56, a current ratio of 2.41 and a debt-to-equity ratio of 0.43. Valmont Industries, Inc. has a 12-month low of $378.02 and a 12-month high of $585.71. The business's 50 day moving average is $465.24 and its 200-day moving average is $477.25.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its earnings results on Tuesday, October 20th. The industrial products company reported $6.24 earnings per share for the quarter, topping analysts' consensus estimates of $5.70 by $0.54. Valmont Industries had a net margin of 12.05% and a return on equity of 26.25%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company earned $4.98 earnings per share. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts predict that Valmont Industries, Inc. will post 23.27 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 24th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 24th. Valmont Industries's payout ratio is 11.43%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Weiss Ratings cut shares of Valmont Industries from a "buy (b)" rating to a "hold (c)" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Valmont Industries from $600.00 to $620.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Stifel Nicolaus increased their price target on Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Wall Street Zen cut Valmont Industries from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Zacks Research downgraded shares of Valmont Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Valmont Industries currently has a consensus rating of "Moderate Buy" and an average price target of $587.00.

Valmont Industries Profile

Valmont Industries, Inc is a global manufacturer of engineered products and services serving the infrastructure and agricultural markets. Founded in 1946 and headquartered in Omaha, Nebraska, the company operates through businesses focused on infrastructure, coatings, and water management.

Its infrastructure products include utility and transmission structures, lighting and traffic poles, highway and transportation structures, and related support systems. Valmont also provides hot-dip galvanizing and other protective coatings designed to extend the service life of steel products used in industrial, infrastructure, and commercial applications.

In agriculture, the company manufactures mechanized irrigation equipment, including center-pivot and linear irrigation systems, as well as agricultural products and services intended to support water conservation and crop production.

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