Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 70.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,244 shares of the industrial products company's stock after buying an additional 19,096 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.23% of Valmont Industries worth $14,182,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in shares of Valmont Industries during the 3rd quarter valued at about $35,000. Point72 Asset Management L.P. bought a new position in Valmont Industries in the 3rd quarter worth about $58,000. Avior Wealth Management LLC grew its position 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 worth $65,000 after purchasing an additional 56 shares during the last quarter. Huntington National Bank grew its position in Valmont Industries by 16.5% in the 3rd quarter. Huntington National Bank now owns 247 shares of the industrial products company's stock worth $72,000 after purchasing an additional 35 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Valmont Industries by 16.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company's stock worth $76,000 after purchasing an additional 36 shares during the last quarter. Institutional investors own 87.84% of the company's stock.
Analyst Ratings Changes
VMI has been the subject of several recent analyst reports. StockNews.com upgraded shares of Valmont Industries from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. DA Davidson cut 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. Finally, Stifel Nicolaus upped their target price 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.
Read Our Latest Stock Report on VMI
Valmont Industries Trading Up 1.8 %
Shares of NYSE:VMI opened at $326.72 on Thursday. The company has a 50 day moving average of $330.35 and a 200-day moving average of $317.30. The firm has a market cap of $6.55 billion, a P/E ratio of 19.02 and a beta of 0.98. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $379.22. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.
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 for the quarter, topping analysts' consensus estimates of $3.63 by $0.21. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. During the same period in the prior year, the business posted $3.18 EPS. As a group, analysts anticipate that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.
Valmont Industries Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, March 28th. This is a positive change from Valmont Industries's previous quarterly dividend of $0.60. This represents a $2.72 annualized dividend and a yield of 0.83%. Valmont Industries's dividend payout ratio is currently 15.83%.
Valmont Industries Profile
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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.
Further Reading
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