Van ECK Associates Corp Acquires 3,943 Shares of Valmont Industries, Inc. (NYSE:VMI)

Van ECK Associates Corp raised its holdings in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,436 shares of the industrial products company's stock after buying an additional 3,943 shares during the period. Van ECK Associates Corp owned 0.08% of Valmont Industries worth $4,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new stake in Valmont Industries in the 3rd quarter valued at $35,000. Exchange Traded Concepts LLC acquired a new stake in Valmont Industries in the 3rd quarter valued at $39,000. Point72 Asset Management L.P. acquired a new stake in Valmont Industries in the 3rd quarter valued at $58,000. Avior Wealth Management LLC increased its stake 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 buying an additional 56 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Valmont Industries by 35.4% in the 3rd quarter. Signaturefd LLC now owns 214 shares of the industrial products company's stock valued at $62,000 after buying an additional 56 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Valmont Industries

In related news, Director Mogens C. Bay sold 20,000 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following the transaction, the director now owns 131,730 shares in the company, valued at approximately $45,963,231.60. This represents a 13.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on VMI. DA Davidson lowered shares of Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price target on the stock. in a research note on Wednesday. StockNews.com lowered shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Finally, Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday.

Valmont Industries Stock Performance

Shares of Valmont Industries stock traded down $13.74 during trading on Friday, hitting $349.17. 113,467 shares of the stock were exchanged, compared to its average volume of 122,122. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 20.32 and a beta of 1.05. The company has a fifty day moving average price of $323.66 and a 200-day moving average price of $311.72. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year 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 released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.63 by $0.21. The company had revenue of $1.04 billion for 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 previous year, the business earned $3.18 EPS. As a group, equities analysts predict that Valmont Industries, Inc. will post 18.14 EPS for the current fiscal year.

Valmont Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be paid a $0.68 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.72 dividend on an annualized basis and a yield of 0.78%. This is a positive change from Valmont Industries's previous quarterly dividend of $0.60. Valmont Industries's dividend payout ratio is 15.83%.

Valmont Industries Profile

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.