Public Employees Retirement System of Ohio Purchases 737 Shares of Valmont Industries, Inc. (VMI)
Public Employees Retirement System of Ohio grew its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,620 shares of the industrial products company’s stock after buying an additional 737 shares during the period. Public Employees Retirement System of Ohio’s holdings in Valmont Industries were worth $1,439,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dean Capital Management purchased a new position in shares of Valmont Industries during the 2nd quarter valued at $3,121,000. Ameritas Investment Partners Inc. lifted its position in shares of Valmont Industries by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,759 shares of the industrial products company’s stock valued at $1,011,000 after buying an additional 120 shares during the last quarter. Castleark Management LLC purchased a new stake in Valmont Industries during the 2nd quarter worth about $11,741,000. The Manufacturers Life Insurance Company lifted its holdings in Valmont Industries by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,205 shares of the industrial products company’s stock worth $4,968,000 after purchasing an additional 698 shares in the last quarter. Finally, Makaira Partners LLC lifted its holdings in Valmont Industries by 5.4% during the 2nd quarter. Makaira Partners LLC now owns 299,525 shares of the industrial products company’s stock worth $44,809,000 after purchasing an additional 15,356 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Valmont Industries, Inc. (VMI) opened at $160.55 on Tuesday. The stock has a market capitalization of $3,593.49, a PE ratio of 23.17, a P/E/G ratio of 2.28 and a beta of 1.03. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.53 and a current ratio of 3.50. Valmont Industries, Inc. has a 1-year low of $122.25 and a 1-year high of $165.20.
Valmont Industries (NYSE:VMI) last announced its earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.04). The business had revenue of $680.78 million during the quarter, compared to the consensus estimate of $652.65 million. Valmont Industries had a return on equity of 14.56% and a net margin of 7.02%. Valmont Industries’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.48 earnings per share. analysts expect that Valmont Industries, Inc. will post 6.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.50 dividend on an annualized basis and a yield of 0.93%. Valmont Industries’s dividend payout ratio is currently 17.90%.
A number of analysts recently issued reports on the company. Boenning Scattergood reissued a “buy” rating and set a $185.00 price objective on shares of Valmont Industries in a report on Thursday, October 19th. Zacks Investment Research raised Valmont Industries from a “sell” rating to a “hold” rating in a report on Monday. Stifel Nicolaus reissued a “buy” rating and set a $183.00 price objective on shares of Valmont Industries in a report on Tuesday, October 17th. Seaport Global Securities assumed coverage on Valmont Industries in a report on Wednesday, September 6th. They set a “buy” rating and a $160.00 price objective on the stock. Finally, BidaskClub cut Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Valmont Industries presently has a consensus rating of “Hold” and an average price target of $176.50.
Valmont Industries Profile
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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