12,977 Shares in Valmont Industries, Inc. $VMI Bought by Meritage Portfolio Management

Key Points

• Meritage Portfolio Management opened a new position in Valmont Industries, buying 12,977 shares worth approximately $5.22 million, representing about 0.07% of the company.
• Valmont beat estimates with $5.51 EPS for the quarter (vs. $4.72 expected) and raised its quarterly dividend to $0.77 (annualized $3.08, yield ~0.8%).
• Analysts remain broadly positive: the stock has a consensus rating of “Moderate Buy” with an average target of $487, and several firms (JPMorgan, Stifel, DA Davidson) recently lifted price targets.

Meritage Portfolio Management acquired a new position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,977 shares of the industrial products company's stock, valued at approximately $5,221,000. Meritage Portfolio Management owned about 0.07% of Valmont Industries as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Community Bank N.A. purchased a new position in Valmont Industries during the third quarter worth $25,000. First Horizon Corp purchased a new position in Valmont Industries during the third quarter worth $29,000. Abich Financial Wealth Management LLC purchased a new position in Valmont Industries during the third quarter worth $36,000. Farther Finance Advisors LLC increased its position in Valmont Industries by 357.1% during the third quarter. Farther Finance Advisors LLC now owns 96 shares of the industrial products company's stock worth $37,000 after buying an additional 75 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Valmont Industries by 223.4% during the first quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company's stock worth $43,000 after buying an additional 105 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on VMI shares. DA Davidson raised their price target on Valmont Industries from $415.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Valmont Industries in a research report on Friday, March 27th. Wall Street Zen downgraded Valmont Industries from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. lifted their price objective on Valmont Industries from $480.00 to $510.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Finally, Stifel Nicolaus lifted their price objective on Valmont Industries from $492.00 to $501.00 and gave the company a "buy" rating in a research report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $487.00.

Valmont Industries Price Performance

Shares of NYSE:VMI opened at $410.31 on Tuesday. The company has a market cap of $8.02 billion, a P/E ratio of 24.39 and a beta of 1.24. The company has a quick ratio of 1.58, a current ratio of 2.35 and a debt-to-equity ratio of 0.49. Valmont Industries, Inc. has a 52 week low of $267.02 and a 52 week high of $487.58. The business has a fifty day simple moving average of $428.88 and a 200-day simple moving average of $421.48.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating analysts' consensus estimates of $4.72 by $0.79. Valmont Industries had a return on equity of 23.82% and a net margin of 8.53%. Equities research analysts forecast that Valmont Industries, Inc. will post 21.9 EPS for the current year.

Valmont Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, March 27th were issued a $0.77 dividend. The ex-dividend date was Friday, March 27th. This is an increase from Valmont Industries's previous quarterly dividend of $0.68. This represents a $3.08 dividend on an annualized basis and a yield of 0.8%. Valmont Industries's payout ratio is 18.31%.

About Valmont Industries

Valmont Industries, Inc NYSE: VMI is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont's solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.

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