Texas Permanent School Fund Raises Position in Valmont Industries, Inc. (VMI)
Texas Permanent School Fund raised its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,489 shares of the industrial products company’s stock after buying an additional 183 shares during the period. Texas Permanent School Fund’s holdings in Valmont Industries were worth $2,467,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of VMI. Pinnacle Bank acquired a new position in Valmont Industries during the first quarter valued at approximately $117,000. Janney Montgomery Scott LLC raised its position in Valmont Industries by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock valued at $200,000 after buying an additional 8 shares during the period. Gofen & Glossberg LLC IL acquired a new position in Valmont Industries during the first quarter valued at approximately $205,000. Timber Hill LLC acquired a new position in Valmont Industries during the first quarter valued at approximately $209,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Valmont Industries during the second quarter valued at approximately $212,000. 84.97% of the stock is owned by institutional investors and hedge funds.
Valmont Industries, Inc. (VMI) opened at 150.45 on Thursday. The firm’s 50-day moving average is $151.47 and its 200-day moving average is $150.51. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 18.64 and a beta of 0.97. Valmont Industries, Inc. has a 1-year low of $120.65 and a 1-year high of $165.20.
Valmont Industries (NYSE:VMI) last posted its earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.05. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. The business had revenue of $712.70 million for the quarter, compared to analyst estimates of $668.06 million. During the same quarter in the prior year, the firm earned $1.85 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Valmont Industries, Inc. will post $7.10 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Wednesday, June 28th. Valmont Industries’s payout ratio is 18.59%.
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Several research analysts have recently commented on VMI shares. Stifel Nicolaus lifted their price target on shares of Valmont Industries from $167.00 to $170.00 and gave the company a “buy” rating in a report on Sunday, April 23rd. Zacks Investment Research raised shares of Valmont Industries from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $168.00.
Valmont Industries Company 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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