New York State Common Retirement Fund Decreases Stake in Valmont Industries, Inc. (NYSE:VMI)

New York State Common Retirement Fund reduced its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 26.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,309 shares of the industrial products company's stock after selling 23,031 shares during the period. New York State Common Retirement Fund owned approximately 0.31% of Valmont Industries worth $15,017,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Impax Asset Management Group plc lifted its position in shares of Valmont Industries by 22.6% during the third quarter. Impax Asset Management Group plc now owns 797,247 shares of the industrial products company's stock worth $191,507,000 after purchasing an additional 146,798 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Valmont Industries by 139.6% in the third quarter. Victory Capital Management Inc. now owns 204,584 shares of the industrial products company's stock valued at $49,143,000 after acquiring an additional 119,201 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Valmont Industries during the 4th quarter worth $22,332,000. Robeco Schweiz AG purchased a new position in Valmont Industries in the third quarter worth approximately $21,939,000. Finally, Boston Partners increased its holdings in Valmont Industries by 861.1% in the third quarter. Boston Partners now owns 90,651 shares of the industrial products company's stock valued at $21,383,000 after buying an additional 81,219 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VMI shares. StockNews.com upgraded Valmont Industries from a "hold" rating to a "buy" rating in a research report on Saturday, March 23rd. DA Davidson dropped their target price on shares of Valmont Industries from $290.00 to $275.00 and set a "buy" rating for the company in a report on Tuesday, February 27th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $249.00 price target on shares of Valmont Industries in a research report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $262.00.

Valmont Industries Stock Down 2.1 %

Shares of NYSE:VMI traded down $4.44 during midday trading on Tuesday, reaching $204.80. The company had a trading volume of 202,067 shares, compared to its average volume of 167,310. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.47 and a quick ratio of 1.56. Valmont Industries, Inc. has a one year low of $188.63 and a one year high of $303.57. The stock's fifty day moving average price is $216.72 and its 200-day moving average price is $220.39. The stock has a market capitalization of $4.14 billion, a P/E ratio of 30.39 and a beta of 1.03.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $0.10. Valmont Industries had a return on equity of 20.69% and a net margin of 3.44%. The business had revenue of $1,000.00 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $3.46 earnings per share. The business's revenue was down 11.6% on a year-over-year basis. Equities research analysts expect that Valmont Industries, Inc. will post 14.9 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Wednesday, March 27th. Valmont Industries's payout ratio is presently 35.61%.

Valmont Industries Company Profile

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.