Short Interest in Valmont Industries, Inc. (NYSE:VMI) Expands By 46.7%

Valmont Industries, Inc. (NYSE:VMI - Get Free Report) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 442,300 shares, a growth of 46.7% from the February 13th total of 301,500 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily volume of 130,700 shares, the short-interest ratio is currently 3.4 days.

Hedge Funds Weigh In On Valmont Industries

Hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. purchased a new position in Valmont Industries during the third quarter worth approximately $35,000. Point72 Asset Management L.P. purchased a new position in Valmont Industries during the third quarter worth approximately $58,000. Aster Capital Management DIFC Ltd boosted its position in Valmont Industries by 175.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 193 shares of the industrial products company's stock worth $59,000 after purchasing an additional 123 shares in the last quarter. Quarry LP boosted its position in Valmont Industries by 395.1% during the fourth quarter. Quarry LP now owns 203 shares of the industrial products company's stock worth $62,000 after purchasing an additional 162 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in 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 purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Valmont Industries Stock Performance

Valmont Industries stock traded up $8.15 during midday trading on Wednesday, hitting $330.58. 122,171 shares of the company were exchanged, compared to its average volume of 137,903. The firm has a market capitalization of $6.64 billion, a PE ratio of 19.24 and a beta of 0.98. Valmont Industries has a fifty-two week low of $202.01 and a fifty-two week high of $379.22. The business has a fifty day simple moving average of $332.14 and a two-hundred day simple moving average of $318.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.07.

Remove Ads

Valmont Industries (NYSE:VMI - Get Free Report) last posted its 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same period last year, the company earned $3.18 earnings per share. On average, sell-side analysts forecast that Valmont Industries will post 18.07 earnings per share for the current year.

Valmont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, March 28th. This represents a $2.72 dividend on an annualized basis and a yield of 0.82%. This is an increase from Valmont Industries's previous quarterly dividend of $0.60. Valmont Industries's dividend payout ratio is currently 15.83%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on VMI shares. StockNews.com lowered Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Wednesday. DA Davidson lowered Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 target price on the stock. in a report on Wednesday, February 19th. Finally, Stifel Nicolaus raised their target price on Valmont Industries from $387.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th.

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.