Louisiana State Employees Retirement System Invests $2.28 Million in Valmont Industries, Inc. $VMI

Louisiana State Employees Retirement System bought a new position in shares of Valmont Industries, Inc. (NYSE:VMI) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 5,700 shares of the industrial products company’s stock, valued at approximately $2,278,000.

Several other institutional investors have also bought and sold shares of the stock. Community Bank N.A. acquired a new position in Valmont Industries during the third quarter worth $25,000. Elyxium Wealth LLC bought a new position in shares of Valmont Industries during the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Valmont Industries in the 4th quarter valued at $27,000. Leonteq Securities AG acquired a new stake in shares of Valmont Industries in the 4th quarter valued at $30,000. Finally, State of Wyoming bought a new stake in shares of Valmont Industries in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Valmont Industries Stock Performance

Valmont Industries stock opened at $571.44 on Tuesday. 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 company has a market cap of $11.09 billion, a PE ratio of 31.73, a PEG ratio of 1.31 and a beta of 1.34. The company’s 50-day moving average is $521.81 and its two-hundred day 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.79. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $994.85 million. During the same quarter last year, the firm earned $4.32 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts anticipate that Valmont Industries, Inc. will post 22.83 earnings per share for the current year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a yield of 0.5%. Valmont Industries’s dividend payout ratio (DPR) is presently 17.10%.

Insider Buying and Selling

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of Valmont Industries stock in a transaction on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the sale, the director owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Analysts Set New Price Targets

VMI has been the subject of several analyst reports. Weiss Ratings raised shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Stifel Nicolaus lifted their target price on shares of Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Wall Street Zen lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. One investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $573.75.

Valmont Industries Profile

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.