Bank of Nova Scotia Grows Position in Valmont Industries, Inc. (NYSE:VMI)

Bank of Nova Scotia lifted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 42.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 12,200 shares of the industrial products company's stock after acquiring an additional 3,608 shares during the period. Bank of Nova Scotia owned approximately 0.06% of Valmont Industries worth $3,741,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Covea Finance lifted its holdings in shares of Valmont Industries by 29.9% during the fourth quarter. Covea Finance now owns 15,200 shares of the industrial products company's stock worth $4,661,000 after purchasing an additional 3,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Valmont Industries by 70.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,244 shares of the industrial products company's stock valued at $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 3rd quarter valued at approximately $698,000. Nordea Investment Management AB boosted its holdings in shares of Valmont Industries by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 17,421 shares of the industrial products company's stock valued at $5,326,000 after acquiring an additional 2,521 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in shares of Valmont Industries by 73.6% in the fourth quarter. Trexquant Investment LP now owns 30,325 shares of the industrial products company's stock worth $9,300,000 after acquiring an additional 12,854 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Price Performance

NYSE VMI traded down $3.76 during trading hours on Friday, reaching $277.35. The company's stock had a trading volume of 125,469 shares, compared to its average volume of 147,313. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 16.14 and a beta of 1.07. The company's 50-day moving average is $312.36 and its two-hundred day moving average is $319.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $379.22.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 EPS 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 analysts' expectations of $1.01 billion. During the same period in the previous year, the business earned $3.18 earnings per share. On average, equities analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.98%. This is an increase from Valmont Industries's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 28th. Valmont Industries's dividend payout ratio (DPR) is presently 15.83%.

Analysts Set New Price Targets

A number of research firms recently issued reports on VMI. DA Davidson downgraded shares of Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 target price for the company. in a research report on Wednesday, February 19th. StockNews.com cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 29th. Stifel Nicolaus dropped their target price on Valmont Industries from $425.00 to $343.00 and set a "buy" rating on the stock in a report on Monday. Finally, William Blair downgraded Valmont Industries from an "outperform" rating to a "market perform" rating in a report on Friday, March 21st.

About Valmont Industries

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.