Franklin Resources Inc. raised its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 23.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 502,192 shares of the industrial products company's stock after buying an additional 94,884 shares during the period. Franklin Resources Inc. owned about 2.51% of Valmont Industries worth $154,007,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in Valmont Industries during the 3rd quarter valued at approximately $35,000. Point72 Asset Management L.P. purchased a new stake in Valmont Industries in the 3rd quarter worth $58,000. Avior Wealth Management LLC grew its position in shares of Valmont Industries by 35.9% during the fourth quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company's stock valued at $65,000 after purchasing an additional 56 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Valmont Industries by 16.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company's stock worth $76,000 after buying an additional 36 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Valmont Industries by 83.4% during the fourth quarter. Venturi Wealth Management LLC now owns 310 shares of the industrial products company's stock valued at $95,000 after buying an additional 141 shares during the last quarter. Institutional investors own 87.84% of the company's stock.
Valmont Industries Trading Down 1.9 %
Shares of NYSE VMI traded down $4.92 during midday trading on Monday, hitting $260.36. The company's stock had a trading volume of 87,211 shares, compared to its average volume of 147,521. The business's 50 day moving average is $323.80 and its two-hundred day moving average is $320.71. Valmont Industries, Inc. has a 12-month low of $202.01 and a 12-month high of $379.22. 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 firm has a market cap of $5.23 billion, a P/E ratio of 15.26 and a beta of 1.07.
Valmont Industries (NYSE:VMI - Get Free Report) last issued its 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $3.18 EPS. As a group, equities research analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current year.
Valmont Industries Increases Dividend
The business also recently announced 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%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Valmont Industries's previous quarterly dividend of $0.60. Valmont Industries's dividend payout ratio (DPR) is 15.83%.
Wall Street Analyst Weigh In
VMI has been the subject of a number of recent research reports. StockNews.com lowered shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 29th. 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 report on Wednesday, February 19th. William Blair downgraded Valmont Industries from an "outperform" rating to a "market perform" rating in a research report on Friday, March 21st. Finally, DA Davidson cut Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 target price for the company. in a report on Wednesday, February 19th.
View Our Latest Research Report on VMI
Valmont Industries Profile
(
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.
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