State Treasurer State of Michigan lessened its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 8.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,500 shares of the industrial products company’s stock after selling 800 shares during the quarter. State Treasurer State of Michigan’s holdings in Valmont Industries were worth $1,344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in VMI. Quantitative Systematic Strategies LLC purchased a new position in shares of Valmont Industries in the third quarter worth approximately $304,000. Shell Asset Management Co. boosted its holdings in shares of Valmont Industries by 156.7% in the third quarter. Shell Asset Management Co. now owns 10,870 shares of the industrial products company’s stock worth $1,467,000 after buying an additional 6,636 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Valmont Industries by 7.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 5,028 shares of the industrial products company’s stock worth $752,000 after buying an additional 350 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in shares of Valmont Industries by 127.9% in the second quarter. WINTON GROUP Ltd now owns 35,378 shares of the industrial products company’s stock worth $5,293,000 after buying an additional 19,856 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Valmont Industries by 8.3% in the second quarter. Public Employees Retirement System of Ohio now owns 9,620 shares of the industrial products company’s stock worth $1,439,000 after buying an additional 737 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This article was originally published by Daily Political and is the property of of Daily Political. If you are reading this article on another website, it was stolen and republished in violation of international copyright laws. The correct version of this article can be accessed at https://www.dailypolitical.com/2017/11/07/valmont-industries-inc-vmi-stake-lessened-by-state-treasurer-state-of-michigan.html.

VMI has been the topic of a number of research reports. Stifel Nicolaus reissued a “buy” rating and issued a $171.00 price objective on shares of Valmont Industries in a report on Friday, July 14th. Boenning Scattergood reissued a “hold” rating on shares of Valmont Industries in a report on Thursday, July 20th. Zacks Investment Research downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub downgraded shares of Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Finally, Seaport Global Securities initiated coverage on shares of Valmont Industries in a report on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Valmont Industries currently has a consensus rating of “Hold” and a consensus target price of $176.50.

Valmont Industries, Inc. (NYSE VMI) opened at $160.55 on Tuesday. The company has a current ratio of 3.50, a quick ratio of 2.53 and a debt-to-equity ratio of 0.65. Valmont Industries, Inc. has a 1-year low of $122.25 and a 1-year high of $165.20. The firm has a market cap of $3,593.49, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 2.28 and a beta of 1.03.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.04). Valmont Industries had a net margin of 7.02% and a return on equity of 14.56%. The firm had revenue of $680.78 million for the quarter, compared to analysts’ expectations of $652.65 million. During the same period in the prior year, the firm earned $1.48 EPS. Valmont Industries’s revenue for the quarter was up 11.6% compared to the same quarter last year. equities research analysts forecast that Valmont Industries, Inc. will post 6.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, September 28th. Valmont Industries’s dividend payout ratio is currently 17.90%.

About Valmont Industries

Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.

Want to see what other hedge funds are holding VMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valmont Industries, Inc. (NYSE:VMI).

Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

Receive News & Ratings for Valmont Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valmont Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.