Alliancebernstein L.P. grew its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 24.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,748 shares of the industrial products company's stock after buying an additional 8,047 shares during the quarter. Alliancebernstein L.P. owned 0.20% of Valmont Industries worth $12,496,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its holdings in Valmont Industries by 44.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,206 shares of the industrial products company's stock valued at $370,000 after buying an additional 370 shares during the last quarter. Martin Currie Ltd. grew its position in shares of Valmont Industries by 35.3% in the 4th quarter. Martin Currie Ltd. now owns 3,857 shares of the industrial products company's stock worth $1,183,000 after buying an additional 1,006 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of Valmont Industries during the fourth quarter valued at approximately $1,438,000. Pictet Asset Management Holding SA lifted its stake in Valmont Industries by 11.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,100 shares of the industrial products company's stock worth $951,000 after acquiring an additional 314 shares during the period. Finally, Norges Bank purchased a new position in Valmont Industries during the 4th quarter valued at $67,822,000. Hedge funds and other institutional investors own 87.84% of the company's stock.
Valmont Industries Stock Up 0.1 %
Shares of VMI traded up $0.25 during trading hours on Tuesday, hitting $283.98. The company had a trading volume of 23,257 shares, compared to its average volume of 148,434. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 16.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.07. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $379.22. The firm has a fifty day moving average price of $315.30 and a 200-day moving average price of $319.89.
Valmont Industries (NYSE:VMI - Get Free Report) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $3.18 EPS. On average, equities research analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.
Valmont Industries Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.72 annualized dividend and a yield of 0.96%. This is a boost from Valmont Industries's previous quarterly dividend of $0.60. Valmont Industries's dividend payout ratio is currently 15.83%.
Analyst Ratings Changes
Several brokerages have commented on VMI. DA Davidson lowered shares of Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price objective for the company. in a report on Wednesday, February 19th. Stifel Nicolaus lowered their target price on Valmont Industries from $425.00 to $343.00 and set a "buy" rating for the company in a research note on Monday. StockNews.com cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 29th. Finally, William Blair lowered Valmont Industries from an "outperform" rating to a "market perform" rating in a research report on Friday, March 21st.
Check Out Our Latest Analysis on VMI
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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