Arizona State Retirement System Has $1.80 Million Stake in Valmont Industries, Inc. (NYSE:VMI)

Arizona State Retirement System raised its position in Valmont Industries, Inc. (NYSE:VMI) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,853 shares of the industrial products company’s stock after acquiring an additional 38 shares during the quarter. Arizona State Retirement System’s holdings in Valmont Industries were worth $1,795,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Valmont Industries by 1.1% in the 3rd quarter. State Street Corp now owns 640,876 shares of the industrial products company’s stock valued at $186,204,000 after purchasing an additional 6,913 shares during the period. Franklin Resources Inc. raised its stake in Valmont Industries by 57.6% in the third quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock valued at $123,512,000 after buying an additional 148,811 shares during the period. FMR LLC lifted its position in shares of Valmont Industries by 4.0% in the third quarter. FMR LLC now owns 349,426 shares of the industrial products company’s stock valued at $101,316,000 after buying an additional 13,509 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Valmont Industries by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 335,926 shares of the industrial products company’s stock worth $97,428,000 after acquiring an additional 4,940 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Valmont Industries by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 292,901 shares of the industrial products company’s stock worth $84,927,000 after acquiring an additional 24,224 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Performance

VMI opened at $321.74 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55. The business has a fifty day simple moving average of $329.94 and a 200 day simple moving average of $317.24. Valmont Industries, Inc. has a 1 year low of $202.01 and a 1 year high of $379.22. The company has a market capitalization of $6.45 billion, a PE ratio of 18.73 and a beta of 0.98.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.63 by $0.21. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company posted $3.18 earnings per share. Research analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.85%. This is a boost from Valmont Industries’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 28th. Valmont Industries’s dividend payout ratio (DPR) is 15.83%.

Wall Street Analysts Forecast Growth

VMI has been the subject of several research reports. DA Davidson downgraded Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a report on Wednesday, February 19th. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus upped their price target on shares of Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th.

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.