New Mexico Educational Retirement Board Invests $929,000 in Valmont Industries, Inc. (VMI)
New Mexico Educational Retirement Board purchased a new stake in shares of Valmont Industries, Inc. (NYSE:VMI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,600 shares of the industrial products company’s stock, valued at approximately $929,000.
Several other institutional investors also recently bought and sold shares of the company. KBC Group NV grew its holdings in shares of Valmont Industries by 26.4% during the 4th quarter. KBC Group NV now owns 102,577 shares of the industrial products company’s stock valued at $17,012,000 after acquiring an additional 21,456 shares in the last quarter. Swiss National Bank grew its holdings in shares of Valmont Industries by 1.9% during the 4th quarter. Swiss National Bank now owns 38,500 shares of the industrial products company’s stock valued at $6,385,000 after acquiring an additional 700 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Valmont Industries by 2.4% in the fourth quarter. California Public Employees Retirement System now owns 61,187 shares of the industrial products company’s stock worth $10,148,000 after purchasing an additional 1,457 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Valmont Industries by 314.1% in the fourth quarter. Teacher Retirement System of Texas now owns 7,711 shares of the industrial products company’s stock worth $1,279,000 after purchasing an additional 5,849 shares in the last quarter. Finally, Nicollet Investment Management Inc. bought a new stake in Valmont Industries in the fourth quarter worth $796,000. Institutional investors and hedge funds own 85.73% of the company’s stock.
VMI has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Stifel Nicolaus cut shares of Valmont Industries from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $177.00 to $174.00 in a report on Monday, December 11th. Boenning Scattergood reiterated a “buy” rating and issued a $185.00 price objective on shares of Valmont Industries in a report on Friday, November 10th. Finally, Seaport Global Securities cut shares of Valmont Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $173.75.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.02). The business had revenue of $714.98 million during the quarter, compared to the consensus estimate of $724.03 million. Valmont Industries had a return on equity of 14.17% and a net margin of 4.23%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 earnings per share. analysts anticipate that Valmont Industries, Inc. will post 8.1 EPS for the current fiscal year.
In other Valmont Industries news, VP Vanessa Kay Brown sold 3,059 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $171.74, for a total transaction of $525,352.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is owned by insiders.
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.
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