Louisiana State Employees Retirement System Takes Position in Valmont Industries, Inc. $VMI

Louisiana State Employees Retirement System acquired a new position in Valmont Industries, Inc. (NYSE:VMI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,700 shares of the industrial products company’s stock, valued at approximately $2,278,000.

Other large investors have also modified their holdings of the company. Community Bank N.A. acquired a new position in Valmont Industries in the 3rd quarter valued at $25,000. Elyxium Wealth LLC acquired a new position in Valmont Industries during the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Valmont Industries during the fourth quarter valued at about $27,000. Leonteq Securities AG bought a new stake in Valmont Industries during the fourth quarter valued at about $30,000. Finally, State of Wyoming acquired a new stake in shares of Valmont Industries in the fourth quarter valued at about $34,000. 87.84% of the stock is owned by institutional investors.

Valmont Industries Stock Performance

VMI opened at $571.44 on Tuesday. The stock has a market cap of $11.09 billion, a PE ratio of 31.73, a P/E/G ratio of 1.31 and a beta of 1.34. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. Valmont Industries, Inc. has a 1 year low of $321.21 and a 1 year high of $585.71. The stock’s 50 day simple moving average is $521.81 and its 200-day simple moving average is $462.26.

Valmont Industries (NYSE:VMI) last issued its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, topping the consensus estimate of $4.72 by $0.79. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $994.85 million. During the same period last year, the business earned $4.32 earnings per share. Valmont Industries’s quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts forecast that Valmont Industries, Inc. will post 22.83 EPS for the current year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, June 26th. Valmont Industries’s payout ratio is 17.10%.

Analyst Ratings Changes

A number of research firms have recently commented on VMI. Zacks Research upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Oppenheimer set a $600.00 target price on Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. Stifel Nicolaus lifted their price target on Valmont Industries from $541.00 to $645.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Wall Street Zen lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, JPMorgan Chase & Co. increased their price objective on Valmont Industries from $520.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $573.75.

Insider Buying and Selling at Valmont Industries

In related news, Director Mogens C. Bay sold 17,500 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $492.34, for a total value of $8,615,950.00. Following the sale, the director owned 112,309 shares of the company’s stock, valued at $55,294,213.06. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.42% of the company’s stock.

About Valmont Industries

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.