Allspring Global Investments Holdings LLC Acquires New Shares in Valmont Industries, Inc. (NYSE:VMI)

Allspring Global Investments Holdings LLC bought a new position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,985 shares of the industrial products company's stock, valued at approximately $8,275,000. Allspring Global Investments Holdings LLC owned approximately 0.13% of Valmont Industries as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in VMI. Sunbelt Securities Inc. acquired a new position in Valmont Industries during the third quarter worth approximately $35,000. Exchange Traded Concepts LLC acquired a new position in Valmont Industries during the third quarter worth approximately $39,000. Point72 Asset Management L.P. acquired a new position in Valmont Industries during the third quarter worth approximately $58,000. Signaturefd LLC increased its position in Valmont Industries by 35.4% during the third quarter. Signaturefd LLC now owns 214 shares of the industrial products company's stock worth $62,000 after buying an additional 56 shares during the period. Finally, Avior Wealth Management LLC increased its position in Valmont Industries by 35.9% during the fourth quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company's stock worth $65,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com downgraded Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. DA Davidson downgraded Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 target price on the stock. in a research note on Wednesday. Finally, Stifel Nicolaus lifted their target price on Valmont Industries from $387.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday.

Valmont Industries Stock Performance

Shares of VMI stock traded down $13.74 during midday trading on Friday, hitting $349.17. The company had a trading volume of 113,467 shares, compared to its average volume of 122,122. The company's 50 day simple moving average is $323.66 and its 200 day simple moving average is $311.72. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $379.22. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 20.32 and a beta of 1.05. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company posted $3.18 earnings per share. Research analysts anticipate that Valmont Industries, Inc. will post 18.14 earnings per share for the current fiscal year.

Valmont Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from Valmont Industries's previous quarterly dividend of $0.60. Valmont Industries's dividend payout ratio (DPR) is currently 15.83%.

Insider Activity at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 20,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following the completion of the transaction, the director now directly owns 131,730 shares of the company's stock, valued at approximately $45,963,231.60. This trade represents a 13.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company's stock.

About Valmont Industries

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.