Ensign Peak Advisors Inc raised its holdings in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,952 shares of the industrial products company's stock after buying an additional 981 shares during the quarter. Ensign Peak Advisors Inc's holdings in Valmont Industries were worth $2,132,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in VMI. Oppenheimer Asset Management Inc. grew its holdings in shares of Valmont Industries by 0.9% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,950 shares of the industrial products company's stock worth $1,211,000 after acquiring an additional 34 shares during the period. PNC Financial Services Group Inc. grew its stake in Valmont Industries by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the industrial products company's stock worth $472,000 after purchasing an additional 35 shares during the period. Parkside Financial Bank & Trust raised its holdings in Valmont Industries by 16.9% in the fourth 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 in the last quarter. Arizona State Retirement System lifted its position in Valmont Industries by 0.7% during the fourth quarter. Arizona State Retirement System now owns 5,853 shares of the industrial products company's stock valued at $1,795,000 after buying an additional 38 shares during the period. Finally, Diametric Capital LP boosted its holdings in shares of Valmont Industries by 2.2% during the 4th quarter. Diametric Capital LP now owns 1,781 shares of the industrial products company's stock valued at $546,000 after buying an additional 39 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on VMI. Stifel Nicolaus increased their price target on shares of Valmont Industries from $343.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. DA Davidson downgraded 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 note on Wednesday, February 19th. William Blair upgraded shares of Valmont Industries from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd. Finally, StockNews.com downgraded Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 29th.
Read Our Latest Stock Report on Valmont Industries
Valmont Industries Stock Down 0.8%
VMI traded down $2.63 during trading on Wednesday, hitting $317.46. 11,789 shares of the company's stock traded hands, compared to its average volume of 140,842. Valmont Industries, Inc. has a 12-month low of $244.83 and a 12-month high of $379.22. The company's 50 day simple moving average is $296.78 and its two-hundred day simple moving average is $319.15. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 18.48 and a beta of 1.10.
Valmont Industries (NYSE:VMI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.08. The business had revenue of $969.31 million for the quarter, compared to analysts' expectations of $976.04 million. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. Analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.
Valmont Industries Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, June 27th. Valmont Industries's dividend payout ratio is currently 15.83%.
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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