California Public Employees Retirement System Sells 1,460 Shares of Valmont Industries, Inc. (NYSE:VMI)

California Public Employees Retirement System decreased its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,672 shares of the industrial products company’s stock after selling 1,460 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Valmont Industries worth $11,860,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. bought a new stake in Valmont Industries in the 3rd quarter valued at $35,000. Point72 Asset Management L.P. bought a new stake in shares of Valmont Industries in the third quarter valued at about $58,000. Avior Wealth Management LLC lifted its stake in shares of Valmont Industries by 35.9% in the fourth quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock valued at $65,000 after buying an additional 56 shares during the period. Parkside Financial Bank & Trust grew its position in Valmont Industries by 16.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company’s stock worth $76,000 after buying an additional 36 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Valmont Industries by 83.4% during the fourth quarter. Venturi Wealth Management LLC now owns 310 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 141 shares during the period. 87.84% of the stock is owned by institutional investors.

Valmont Industries Stock Performance

Valmont Industries stock opened at $265.58 on Friday. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $379.22. 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 stock has a fifty day moving average price of $323.80 and a two-hundred day moving average price of $320.42. The firm has a market capitalization of $5.33 billion, a P/E ratio of 15.46 and a beta of 1.07.

Valmont Industries (NYSE:VMI) last announced 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. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. During the same period last year, the firm posted $3.18 EPS. As a group, analysts anticipate that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, March 28th. This is a positive change from Valmont Industries’s previous quarterly dividend of $0.60. This represents a $2.72 dividend on an annualized basis and a yield of 1.02%. Valmont Industries’s dividend payout ratio is 15.83%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VMI. DA Davidson lowered Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a report on Wednesday, February 19th. Stifel Nicolaus increased their price objective 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. StockNews.com downgraded shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 29th. Finally, William Blair cut shares of Valmont Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, March 21st.

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.