Allianz Asset Management GmbH Purchases 148,740 Shares of Valmont Industries, Inc. (NYSE:VMI)

Allianz Asset Management GmbH grew its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 118.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 274,769 shares of the industrial products company's stock after buying an additional 148,740 shares during the period. Allianz Asset Management GmbH owned 1.37% of Valmont Industries worth $78,411,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd raised its position in shares of Valmont Industries by 175.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 193 shares of the industrial products company's stock worth $59,000 after purchasing an additional 123 shares during the last quarter. Quarry LP raised its position in shares of Valmont Industries by 395.1% in the 4th quarter. Quarry LP now owns 203 shares of the industrial products company's stock worth $62,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Valmont Industries by 82.3% in the 1st quarter. GAMMA Investing LLC now owns 226 shares of the industrial products company's stock worth $64,000 after purchasing an additional 102 shares during the last quarter. Signaturefd LLC raised its position in shares of Valmont Industries by 23.9% in the 1st quarter. Signaturefd LLC now owns 270 shares of the industrial products company's stock worth $77,000 after purchasing an additional 52 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Valmont Industries by 19.1% in the 1st quarter. First Horizon Advisors Inc. now owns 392 shares of the industrial products company's stock worth $112,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

VMI has been the subject of several recent analyst reports. Wall Street Zen lowered Valmont Industries from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Stifel Nicolaus boosted their target price on Valmont Industries from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Monday. William Blair raised Valmont Industries from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 23rd. Finally, DA Davidson boosted their target price on Valmont Industries from $380.00 to $400.00 and gave the stock a "neutral" rating in a research report on Wednesday.

Valmont Industries Stock Performance

NYSE:VMI traded up $0.63 on Friday, hitting $358.02. The stock had a trading volume of 49,286 shares, compared to its average volume of 161,066. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 33.27 and a beta of 1.12. The company has a quick ratio of 1.50, a current ratio of 2.15 and a debt-to-equity ratio of 0.48. The business's 50-day simple moving average is $328.35 and its two-hundred day simple moving average is $318.63. Valmont Industries, Inc. has a 52-week low of $250.07 and a 52-week high of $379.22.

Valmont Industries (NYSE:VMI - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 EPS for the quarter, beating the consensus estimate of $4.78 by $0.10. Valmont Industries had a net margin of 5.98% and a return on equity of 22.10%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $4.91 EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, research analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a $0.68 dividend. The ex-dividend date was Friday, June 27th. This represents a $2.72 dividend on an annualized basis and a yield of 0.76%. Valmont Industries's dividend payout ratio is currently 15.83%.

About Valmont Industries

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.