New York State Teachers Retirement System Purchases 1,543 Shares of Valmont Industries, Inc. (NYSE:VMI)

New York State Teachers Retirement System raised its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 6.8% in the fourth quarter, HoldingsChannel reports. The fund owned 24,340 shares of the industrial products company’s stock after acquiring an additional 1,543 shares during the period. New York State Teachers Retirement System’s holdings in Valmont Industries were worth $7,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in VMI. Exchange Traded Concepts LLC bought a new stake in shares of Valmont Industries during the third quarter worth approximately $39,000. Blue Trust Inc. boosted its holdings in shares of Valmont Industries by 5,505.6% during the third quarter. Blue Trust Inc. now owns 1,009 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 991 shares during the period. Raymond James & Associates boosted its holdings in shares of Valmont Industries by 3.0% during the third quarter. Raymond James & Associates now owns 13,934 shares of the industrial products company’s stock worth $4,040,000 after acquiring an additional 407 shares during the period. Signaturefd LLC boosted its holdings in shares of Valmont Industries by 35.4% during the third quarter. Signaturefd LLC now owns 214 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 56 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Valmont Industries by 1.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,325 shares of the industrial products company’s stock worth $674,000 after acquiring an additional 35 shares during the period. Institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. DA Davidson cut Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research note on Wednesday. Stifel Nicolaus boosted their price target on Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Valmont Industries Trading Down 2.7 %

Shares of VMI stock opened at $366.88 on Thursday. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.58. The stock has a market cap of $7.35 billion, a P/E ratio of 24.92 and a beta of 1.05. The stock has a 50 day simple moving average of $323.00 and a 200 day simple moving average of $311.36. Valmont Industries, Inc. has a 1 year low of $202.01 and a 1 year high of $379.22.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.63 by $0.21. Valmont Industries had a net margin of 7.38% and a return on equity of 23.10%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $3.18 earnings per share. On average, research analysts predict that Valmont Industries, Inc. will post 16.88 earnings per share for the current fiscal year.

Valmont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be given a dividend of $0.68 per share. This is an increase from Valmont Industries’s previous quarterly dividend of $0.60. This represents a $2.72 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Friday, March 28th. Valmont Industries’s payout ratio is currently 16.30%.

Insider Buying and Selling at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the completion of the transaction, the director now directly owns 131,730 shares in the company, valued at $45,963,231.60. The trade was a 13.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.90% of the company’s stock.

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.