D. E. Shaw & Co. Inc. Cuts Stake in Valmont Industries, Inc. (NYSE:VMI)

D. E. Shaw & Co. Inc. decreased its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,592 shares of the industrial products company's stock after selling 56,290 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.66% of Valmont Industries worth $40,662,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in VMI. Norges Bank bought a new position in Valmont Industries during the 4th quarter worth approximately $67,822,000. Franklin Resources Inc. raised its holdings in Valmont Industries by 23.3% during the 4th quarter. Franklin Resources Inc. now owns 502,192 shares of the industrial products company's stock worth $154,007,000 after purchasing an additional 94,884 shares during the last quarter. US Bancorp DE raised its holdings in Valmont Industries by 2,077.0% during the 4th quarter. US Bancorp DE now owns 58,779 shares of the industrial products company's stock worth $18,026,000 after purchasing an additional 56,079 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Valmont Industries during the 4th quarter worth approximately $14,180,000. Finally, Northern Trust Corp raised its holdings in Valmont Industries by 20.8% during the 4th quarter. Northern Trust Corp now owns 201,559 shares of the industrial products company's stock worth $61,812,000 after purchasing an additional 34,666 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

Valmont Industries Price Performance

Shares of VMI traded up $5.94 during midday trading on Friday, hitting $325.39. 46,441 shares of the company traded hands, compared to its average volume of 150,682. Valmont Industries, Inc. has a one year low of $244.83 and a one year high of $379.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55. The firm has a market cap of $6.53 billion, a P/E ratio of 18.94 and a beta of 1.10. The stock has a 50-day moving average of $296.76 and a 200-day moving average of $318.97.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.24 by $0.08. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The company had revenue of $969.31 million during the quarter, compared to analyst estimates of $976.04 million. As a group, sell-side analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, June 27th. Valmont Industries's payout ratio is 15.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. William Blair upgraded shares of Valmont Industries from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 23rd. Stifel Nicolaus lifted their price objective on shares of Valmont Industries from $343.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. DA Davidson cut Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 target price on the stock. in a research note on Wednesday, February 19th. Finally, StockNews.com cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 29th.

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.