Retirement Systems of Alabama Sells 1,312 Shares of Valmont Industries, Inc. (NYSE:VMI)

Retirement Systems of Alabama reduced its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,670 shares of the industrial products company’s stock after selling 1,312 shares during the period. Retirement Systems of Alabama’s holdings in Valmont Industries were worth $15,828,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of VMI. Signaturefd LLC boosted its stake in Valmont Industries by 37.3% in the fourth quarter. Signaturefd LLC now owns 206 shares of the industrial products company’s stock valued at $48,000 after buying an additional 56 shares in the last quarter. Duality Advisers LP boosted its stake in shares of Valmont Industries by 13.6% in the 4th quarter. Duality Advisers LP now owns 1,546 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 185 shares in the last quarter. South Dakota Investment Council bought a new stake in shares of Valmont Industries during the 4th quarter valued at approximately $397,000. K.J. Harrison & Partners Inc acquired a new position in Valmont Industries during the 4th quarter worth approximately $234,000. Finally, Alliance Wealth Advisors LLC UT lifted its stake in Valmont Industries by 3.7% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 1,889 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Trading Up 2.0 %

VMI traded up $5.54 during midday trading on Friday, hitting $288.93. 54,307 shares of the company were exchanged, compared to its average volume of 170,001. The firm’s 50 day moving average price is $278.94 and its 200-day moving average price is $247.99. Valmont Industries, Inc. has a 1-year low of $188.63 and a 1-year high of $307.67. The firm has a market capitalization of $5.83 billion, a P/E ratio of 38.07 and a beta of 1.03. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.72. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.06 billion. As a group, equities analysts forecast that Valmont Industries, Inc. will post 16.76 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be given a $0.60 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.83%. Valmont Industries’s dividend payout ratio (DPR) is currently 31.62%.

Insider Activity

In related news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the transaction, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the sale, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the sale, the director now directly owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VMI. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Stifel Nicolaus boosted their price objective on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, DA Davidson upped their target price on Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $332.50.

About Valmont Industries

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.