221,155 Shares in Valmont Industries, Inc. (NYSE:VMI) Bought by Norges Bank

Norges Bank acquired a new position in Valmont Industries, Inc. (NYSE:VMI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 221,155 shares of the industrial products company's stock, valued at approximately $67,822,000. Norges Bank owned about 1.10% of Valmont Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. grew its position in Valmont Industries by 57.6% in the third quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company's stock worth $123,512,000 after buying an additional 148,811 shares during the last quarter. US Bancorp DE grew its holdings in shares of 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 acquiring an additional 56,079 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Valmont Industries by 16.3% in the 3rd quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company's stock worth $71,825,000 after acquiring an additional 34,772 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Valmont Industries during the fourth quarter worth $8,275,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Valmont Industries by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 292,901 shares of the industrial products company's stock valued at $84,927,000 after purchasing an additional 24,224 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

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Valmont Industries Stock Down 0.2 %

NYSE VMI traded down $0.53 during trading on Tuesday, reaching $263.33. 260,967 shares of the company's stock were exchanged, compared to its average volume of 149,184. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Valmont Industries, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $379.22. The company's fifty day simple moving average is $319.89 and its 200-day simple moving average is $320.03. The firm has a market capitalization of $5.29 billion, a PE ratio of 15.33 and a beta of 1.07.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.63 by $0.21. The business 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 period last year, the company posted $3.18 earnings per share. Sell-side analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.03%. This is a positive change from Valmont Industries's previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 28th. Valmont Industries's dividend payout ratio (DPR) is currently 15.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. StockNews.com cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 29th. Stifel Nicolaus boosted 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. DA Davidson downgraded shares of Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price target for the company. in a research report on Wednesday, February 19th. 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.

Valmont Industries Company 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.