Essex Investment Management Co. LLC lifted its position in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,159 shares of the industrial products company's stock after buying an additional 901 shares during the period. Essex Investment Management Co. LLC's holdings in Valmont Industries were worth $2,809,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in VMI. Franklin Resources Inc. increased its position in shares of Valmont Industries by 57.6% during the third quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company's stock worth $123,512,000 after acquiring an additional 148,811 shares in the last quarter. US Bancorp DE boosted its stake in Valmont Industries by 2,077.0% in the 4th quarter. US Bancorp DE now owns 58,779 shares of the industrial products company's stock worth $18,026,000 after purchasing an additional 56,079 shares during the period. Wellington Management Group LLP increased its holdings in Valmont Industries by 16.3% during the 3rd quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company's stock worth $71,825,000 after purchasing an additional 34,772 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Valmont Industries in the 4th quarter valued at approximately $8,275,000. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Valmont Industries by 9.6% in the third quarter. Segall Bryant & Hamill LLC now owns 288,633 shares of the industrial products company's stock valued at $83,689,000 after purchasing an additional 25,237 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.
Valmont Industries Stock Performance
Shares of VMI traded down $8.23 during mid-day trading on Thursday, reaching $318.49. The company's stock had a trading volume of 136,428 shares, compared to its average volume of 133,832. 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 stock has a market cap of $6.38 billion, a P/E ratio of 18.54 and a beta of 0.98. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $379.22. The business has a 50-day simple moving average of $330.35 and a two-hundred day simple moving average of $317.30.
Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.63 by $0.21. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $3.18 EPS. As a group, equities research analysts anticipate that Valmont Industries, Inc. will post 18.07 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. Investors of record on Friday, March 28th will be paid a $0.68 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.72 dividend on an annualized basis and a yield of 0.85%. This is a positive change from Valmont Industries's previous quarterly dividend of $0.60. Valmont Industries's dividend payout ratio is 15.83%.
Wall Street Analysts Forecast Growth
VMI has been the subject of several recent analyst reports. StockNews.com raised Valmont Industries from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Stifel Nicolaus increased their price target on shares of Valmont Industries from $387.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, DA Davidson lowered shares of Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price objective on the stock. in a research note on Wednesday, February 19th.
Read Our Latest Stock Analysis 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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
