Corient Private Wealth LLC cut its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 32.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,175 shares of the industrial products company's stock after selling 2,026 shares during the quarter. Corient Private Wealth LLC's holdings in Valmont Industries were worth $1,280,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. bought a new stake in Valmont Industries during the 3rd quarter worth about $35,000. Point72 Asset Management L.P. acquired a new position in Valmont Industries in the 3rd quarter valued at about $58,000. Avior Wealth Management LLC raised its holdings in Valmont Industries by 35.9% in the 4th quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company's stock valued at $65,000 after acquiring an additional 56 shares during the period. Parkside Financial Bank & Trust lifted its position in Valmont Industries by 16.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company's stock worth $76,000 after acquiring an additional 36 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Valmont Industries by 83.4% during the fourth quarter. Venturi Wealth Management LLC now owns 310 shares of the industrial products company's stock worth $95,000 after acquiring an additional 141 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.
Valmont Industries Price Performance
Shares of VMI traded down $9.21 during midday trading on Friday, hitting $289.99. The company's stock had a trading volume of 114,692 shares, compared to its average volume of 147,702. The company's fifty day simple moving average is $329.60 and its two-hundred day simple moving average is $320.12. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 16.88 and a beta of 0.98. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. Valmont Industries, Inc. has a one year low of $202.01 and a one year high of $379.22.
Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.63 by $0.21. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate 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 company earned $3.18 EPS. As a group, equities analysts expect that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 0.94%. This is a boost 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 Analyst Weigh In
A number of research firms have recently weighed in on VMI. StockNews.com downgraded shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Stifel Nicolaus upped their price objective on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a "buy" rating in a research 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 objective on the stock. in a research note 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.
Check Out Our Latest Research Report on VMI
About Valmont Industries
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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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