Russell Investments Group Ltd. cut its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,978 shares of the industrial products company's stock after selling 2,872 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Valmont Industries worth $3,980,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of VMI. Avior Wealth Management LLC boosted its stake 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 worth $65,000 after buying an additional 56 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Valmont Industries by 16.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 36 shares during the last quarter. Venturi Wealth Management LLC lifted 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 purchasing an additional 141 shares during the period. First Horizon Advisors Inc. increased its stake in Valmont Industries by 17.9% in the 4th quarter. First Horizon Advisors Inc. now owns 329 shares of the industrial products company's stock valued at $101,000 after buying an additional 50 shares during the period. Finally, R Squared Ltd acquired a new position in Valmont Industries in the 4th quarter valued at $147,000. Hedge funds and other institutional investors own 87.84% of the company's stock.
Valmont Industries Stock Down 1.3 %
Valmont Industries stock traded down $3.76 during trading on Friday, reaching $277.35. 125,469 shares of the company's stock were exchanged, compared to its average volume of 147,316. The company's 50-day moving average is $311.41 and its two-hundred day moving average is $319.20. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $379.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.07. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 16.14 and a beta of 1.07.
Valmont Industries (NYSE:VMI - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share for the quarter, topping analysts' consensus estimates of $3.63 by $0.21. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned $3.18 earnings per share. On average, analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.
Valmont Industries Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 28th were paid a dividend of $0.68 per share. This is a positive change from Valmont Industries's previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 28th. This represents a $2.72 annualized dividend and a yield of 0.98%. Valmont Industries's dividend payout ratio is 15.83%.
Analysts Set New Price Targets
VMI has been the topic of several analyst reports. William Blair downgraded shares of Valmont Industries from an "outperform" rating to a "market perform" rating in a report on Friday, March 21st. DA Davidson cut 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. Stifel Nicolaus cut their target price on shares of Valmont Industries from $425.00 to $343.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, StockNews.com lowered shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 29th.
Read Our Latest Stock Report on Valmont Industries
About Valmont Industries
(
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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