Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in Valmont Industries, Inc. (NYSE:VMI) by 25.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,553 shares of the industrial products company’s stock after selling 1,534 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Valmont Industries were worth $631,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in VMI. Moneta Group Investment Advisors LLC raised its holdings in shares of Valmont Industries by 101.3% in the second quarter. Moneta Group Investment Advisors LLC now owns 795 shares of the industrial products company’s stock valued at $120,000 after buying an additional 400 shares during the last quarter. HRT Financial LLC purchased a new stake in shares of Valmont Industries in the second quarter valued at about $224,000. Paloma Partners Management Co purchased a new stake in shares of Valmont Industries in the second quarter valued at about $256,000. Strs Ohio purchased a new stake in shares of Valmont Industries in the second quarter valued at about $330,000. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Valmont Industries by 83.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,348 shares of the industrial products company’s stock valued at $354,000 after buying an additional 1,065 shares during the last quarter. 87.69% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP John A. Kehoe sold 3,059 shares of the business’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $137.50, for a total transaction of $420,612.50. Following the transaction, the senior vice president now directly owns 2,911 shares in the company, valued at $400,262.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.
Shares of Valmont Industries stock opened at $117.58 on Friday. Valmont Industries, Inc. has a 52-week low of $111.83 and a 52-week high of $171.55. The company has a current ratio of 3.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.65. The stock has a market cap of $2.76 billion, a PE ratio of 16.87, a PEG ratio of 1.79 and a beta of 1.07.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.04. Valmont Industries had a net margin of 2.63% and a return on equity of 14.39%. The business had revenue of $678.63 million for the quarter, compared to analyst estimates of $677.34 million. During the same period in the previous year, the business posted $1.56 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. Equities analysts anticipate that Valmont Industries, Inc. will post 7.57 earnings per share for the current fiscal year.
Valmont Industries declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 31st that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 28th will be paid a dividend of $0.375 per share. The ex-dividend date is Thursday, December 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.28%. Valmont Industries’s dividend payout ratio (DPR) is 21.52%.
A number of brokerages have recently commented on VMI. ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. TheStreet cut shares of Valmont Industries from a “b-” rating to a “c+” rating in a report on Thursday, October 4th. Zacks Investment Research lowered shares of Valmont Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Valmont Industries in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Valmont Industries has an average rating of “Hold” and an average price target of $173.33.
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Valmont Industries Company Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
Further Reading: Stock Symbols and CUSIP Explained
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