California State Teachers Retirement System cut its position in Valmont Industries, Inc. (NYSE:VMI) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,345 shares of the industrial products company’s stock after selling 610 shares during the period. California State Teachers Retirement System owned about 0.16% of Valmont Industries worth $4,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in VMI. PNC Financial Services Group Inc. lifted its position in Valmont Industries by 20.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,402 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 235 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Valmont Industries by 538.6% in the 4th quarter. Advisor Group Inc. now owns 1,769 shares of the industrial products company’s stock worth $196,000 after acquiring an additional 1,492 shares during the last quarter. Jefferies Group LLC bought a new stake in shares of Valmont Industries in the 3rd quarter worth about $210,000. Heritage Trust Co lifted its holdings in shares of Valmont Industries by 19.7% in the 4th quarter. Heritage Trust Co now owns 2,393 shares of the industrial products company’s stock worth $266,000 after acquiring an additional 393 shares during the last quarter. Finally, Parametrica Management Ltd bought a new stake in shares of Valmont Industries in the 4th quarter worth about $281,000. 87.22% of the stock is owned by hedge funds and other institutional investors.
VMI has been the subject of several analyst reports. TheStreet upgraded shares of Valmont Industries from a “c+” rating to a “b-” rating in a report on Wednesday, March 13th. Boenning Scattergood reiterated a “hold” rating on shares of Valmont Industries in a report on Thursday, February 21st. Zacks Investment Research raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Monday, February 18th. Finally, ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Four research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $145.00.
Valmont Industries (NYSE:VMI) last posted its earnings results on Thursday, February 21st. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.03). Valmont Industries had a net margin of 3.42% and a return on equity of 14.72%. The firm had revenue of $697.40 million during the quarter, compared to analyst estimates of $713.02 million. During the same quarter in the prior year, the firm earned $1.67 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts expect that Valmont Industries, Inc. will post 8.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, March 28th. Valmont Industries’s payout ratio is presently 19.79%.
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About Valmont Industries
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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