Summit Financial LLC Makes New $869,000 Investment in Valmont Industries, Inc. (NYSE:VMI)

Summit Financial LLC acquired a new stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,830 shares of the industrial products company's stock, valued at approximately $869,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VMI. Sunbelt Securities Inc. bought a new position in shares of Valmont Industries in the third quarter worth $35,000. Point72 Asset Management L.P. bought a new position in Valmont Industries in the 3rd quarter valued at about $58,000. Avior Wealth Management LLC grew its position in Valmont Industries by 35.9% in the 4th quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company's stock valued at $65,000 after buying an additional 56 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Valmont Industries by 16.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company's stock valued at $76,000 after buying an additional 36 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of Valmont Industries by 83.4% in the 4th quarter. Venturi Wealth Management LLC now owns 310 shares of the industrial products company's stock worth $95,000 after acquiring an additional 141 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VMI shares. William Blair cut Valmont Industries from an "outperform" rating to a "market perform" rating in a report on Friday, March 21st. StockNews.com lowered Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 29th. DA Davidson lowered Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 target price on the stock. in a report on Wednesday, February 19th. Finally, Stifel Nicolaus upped their price target on shares of Valmont Industries from $387.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, February 19th.

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Valmont Industries Price Performance

Shares of NYSE VMI traded down $4.92 during trading on Monday, hitting $260.36. The company had a trading volume of 87,211 shares, compared to its average volume of 147,521. Valmont Industries, Inc. has a 52 week low of $202.01 and a 52 week high of $379.22. The business's 50-day moving average is $323.80 and its 200 day moving average is $320.71. The company has a market cap of $5.23 billion, a P/E ratio of 15.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.07.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.63 by $0.21. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $3.18 earnings per share. Equities research analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.

Valmont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.04%. This is a boost from Valmont Industries's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 28th. Valmont Industries's payout ratio is presently 15.83%.

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.