Corebridge Financial Inc. lowered its holdings in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,669 shares of the industrial products company's stock after selling 1,177 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Valmont Industries worth $6,952,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in VMI. Sunbelt Securities Inc. acquired a new position in Valmont Industries in the third quarter valued at $35,000. Point72 Asset Management L.P. acquired a new position in Valmont Industries in the 3rd quarter valued at about $58,000. Avior Wealth Management LLC increased 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 acquiring an additional 56 shares during the period. Parkside Financial Bank & Trust raised 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 acquiring an additional 36 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Valmont Industries by 83.4% during 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. Hedge funds and other institutional investors own 87.84% of the company's stock.
Valmont Industries Price Performance
Shares of NYSE VMI traded up $5.48 during midday trading on Wednesday, hitting $293.95. The company had a trading volume of 21,224 shares, compared to its average volume of 145,337. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The business has a 50-day simple moving average of $327.49 and a two-hundred day simple moving average of $320.68. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $379.22. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 17.11 and a beta of 0.98.
Valmont Industries (NYSE:VMI - Get Free Report) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, topping analysts' consensus estimates of $3.63 by $0.21. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same period in the previous year, the business earned $3.18 earnings per share. Equities research analysts anticipate that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.
Valmont Industries Increases Dividend
The business 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 an increase from Valmont Industries's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.72 annualized dividend and a yield of 0.93%. Valmont Industries's dividend payout ratio (DPR) is presently 15.83%.
Analysts Set New Price Targets
VMI has been the subject of several analyst reports. William Blair cut Valmont Industries from an "outperform" rating to a "market perform" rating in a research note on Friday, March 21st. Stifel Nicolaus raised their target price on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. DA Davidson lowered shares of 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. Finally, StockNews.com cut shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday.
Read Our Latest Research Report on VMI
About Valmont Industries
(
Free Report)
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.
Read More
Before you consider Valmont Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Valmont Industries wasn't on the list.
While Valmont Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn how options trading can help you navigate market volatility, manage risk, and maximize returns with MarketBeat's "Unlock the Potential in Options Trading." Click the link below to have this special report delivered to your inbox.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
