Bank of New York Mellon Corp Sells 4,272 Shares of Valmont Industries, Inc. (NYSE:VMI)

Bank of New York Mellon Corp lowered its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 231,812 shares of the industrial products company's stock after selling 4,272 shares during the period. Bank of New York Mellon Corp owned approximately 1.16% of Valmont Industries worth $71,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of VMI. Colonial River Investments LLC boosted its stake in Valmont Industries by 7.5% during the 4th quarter. Colonial River Investments LLC now owns 1,456 shares of the industrial products company's stock worth $447,000 after acquiring an additional 101 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Valmont Industries in the 4th quarter valued at $2,032,000. First Horizon Advisors Inc. increased its position in shares of Valmont Industries by 17.9% in the 4th quarter. First Horizon Advisors Inc. now owns 329 shares of the industrial products company's stock valued at $101,000 after buying an additional 50 shares in the last quarter. Olympiad Research LP acquired a new stake in Valmont Industries during the 4th quarter worth $253,000. Finally, Allianz Asset Management GmbH lifted its holdings in Valmont Industries by 0.6% during the fourth quarter. Allianz Asset Management GmbH now owns 126,029 shares of the industrial products company's stock worth $38,649,000 after acquiring an additional 801 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VMI has been the subject of several recent analyst reports. Stifel Nicolaus increased their price target on Valmont Industries from $387.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. StockNews.com cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 19th. Finally, DA Davidson downgraded Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price target on the stock. in a research note on Wednesday, February 19th.

Valmont Industries Stock Up 1.7 %

Shares of Valmont Industries stock traded up $5.56 during trading hours on Wednesday, reaching $338.75. 209,712 shares of the company's stock were exchanged, compared to its average volume of 130,843. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $328.01 and a two-hundred day moving average of $315.72. The stock has a market cap of $6.79 billion, a P/E ratio of 19.72 and a beta of 0.98. Valmont Industries, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $379.22.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $3.18 earnings per share. On average, sell-side analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Increases Dividend

The company also recently declared 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 is a positive change from Valmont Industries's previous quarterly dividend of $0.60. This represents a $2.72 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, March 28th. Valmont Industries's dividend payout ratio is 15.83%.

Valmont Industries 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.