Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 161.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,616 shares of the industrial products company's stock after buying an additional 4,704 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Valmont Industries were worth $2,336,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VMI. Covea Finance boosted its holdings in Valmont Industries by 29.9% in the 4th quarter. Covea Finance now owns 15,200 shares of the industrial products company's stock valued at $4,661,000 after purchasing an additional 3,500 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Valmont Industries in the third quarter valued at approximately $466,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Valmont Industries by 70.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,244 shares of the industrial products company's stock worth $14,182,000 after acquiring an additional 19,096 shares during the period. Sanctuary Advisors LLC acquired a new stake in Valmont Industries during the third quarter worth $698,000. Finally, Nordea Investment Management AB raised its position in Valmont Industries by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 17,421 shares of the industrial products company's stock valued at $5,326,000 after purchasing an additional 2,521 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.
Valmont Industries Trading Down 4.5 %
NYSE VMI traded down $12.60 during trading on Friday, hitting $265.58. The stock had a trading volume of 267,502 shares, compared to its average volume of 147,717. The company has a market capitalization of $5.33 billion, a PE ratio of 15.46 and a beta of 1.07. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $379.22. 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 firm has a 50 day moving average price of $323.80 and a 200 day moving average price of $320.42.
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, beating analysts' consensus estimates of $3.63 by $0.21. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. During the same quarter in the previous year, the business posted $3.18 earnings per share. As a group, equities research analysts forecast that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.
Valmont Industries Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be issued a $0.68 dividend. This is a boost 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 1.02%. Valmont Industries's dividend payout ratio (DPR) is 15.83%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on VMI shares. DA Davidson cut Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price target for the company. in a report on Wednesday, February 19th. Stifel Nicolaus lifted their price target on shares of Valmont Industries from $387.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 29th. Finally, William Blair cut shares of Valmont Industries from an "outperform" rating to a "market perform" rating in a research report on Friday, March 21st.
Check Out Our Latest Stock Report on Valmont Industries
Valmont Industries Company 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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