State of Alaska Department of Revenue Lowers Holdings in Valmont Industries, Inc. (NYSE:VMI)

State of Alaska Department of Revenue lowered its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,257 shares of the industrial products company’s stock after selling 235 shares during the period. State of Alaska Department of Revenue’s holdings in Valmont Industries were worth $527,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Belpointe Asset Management LLC increased its position in Valmont Industries by 7.6% during the 1st quarter. Belpointe Asset Management LLC now owns 607 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 43 shares during the period. Treasurer of the State of North Carolina increased its holdings in Valmont Industries by 0.6% during the third quarter. Treasurer of the State of North Carolina now owns 9,110 shares of the industrial products company’s stock valued at $2,188,000 after buying an additional 50 shares during the period. D.B. Root & Company LLC raised its stake in Valmont Industries by 1.6% in the fourth quarter. D.B. Root & Company LLC now owns 3,795 shares of the industrial products company’s stock worth $886,000 after buying an additional 58 shares in the last quarter. Fred Alger Management LLC lifted its holdings in Valmont Industries by 103.2% during the fourth quarter. Fred Alger Management LLC now owns 128 shares of the industrial products company’s stock worth $42,000 after buying an additional 65 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Valmont Industries by 5.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,748 shares of the industrial products company’s stock valued at $420,000 after acquiring an additional 90 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Valmont Industries Stock Performance

Shares of VMI opened at $217.40 on Friday. The company has a current ratio of 2.47, a quick ratio of 1.56 and a debt-to-equity ratio of 0.82. The firm has a market cap of $4.39 billion, a PE ratio of 32.26 and a beta of 1.03. Valmont Industries, Inc. has a 12 month low of $188.63 and a 12 month high of $315.88. The stock has a fifty day moving average price of $221.14 and a 200-day moving average price of $222.58.

Valmont Industries (NYSE:VMI) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.10. The company had revenue of $1,000.00 million for the quarter, compared to analyst estimates of $1.04 billion. Valmont Industries had a return on equity of 20.69% and a net margin of 3.44%. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.46 EPS. Equities research analysts predict that Valmont Industries, Inc. will post 14.75 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Wednesday, March 27th. Valmont Industries’s dividend payout ratio (DPR) is presently 35.61%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com raised Valmont Industries from a “hold” rating to a “buy” rating in a research report on Saturday, March 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $249.00 target price on shares of Valmont Industries in a research note on Monday, March 25th. Finally, DA Davidson decreased their price target on shares of Valmont Industries from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $262.00.

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.