Bank of New York Mellon Corp Has $59.94 Million Stock Holdings in Valmont Industries, Inc. (NYSE:VMI)

Bank of New York Mellon Corp lowered its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,042 shares of the industrial products company's stock after selling 21,770 shares during the period. Bank of New York Mellon Corp owned about 1.05% of Valmont Industries worth $59,940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of VMI. Aster Capital Management DIFC Ltd increased its stake in 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 valued at $59,000 after buying an additional 123 shares during the period. Quarry LP increased its position in shares of Valmont Industries by 395.1% during 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 in the last quarter. GAMMA Investing LLC lifted its holdings in Valmont Industries by 82.3% in the first quarter. GAMMA Investing LLC now owns 226 shares of the industrial products company's stock valued at $64,000 after buying an additional 102 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Valmont Industries by 19.1% during the first 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 in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Valmont Industries in the 4th quarter valued at $161,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Valmont Industries Stock Performance

NYSE VMI traded down $4.59 on Tuesday, reaching $328.26. 169,218 shares of the stock were exchanged, compared to its average volume of 140,969. The firm has a market capitalization of $6.59 billion, a PE ratio of 19.11 and a beta of 1.12. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.45. Valmont Industries, Inc. has a one year low of $250.07 and a one year high of $379.22. The company's 50-day simple moving average is $323.21 and its two-hundred day simple moving average is $316.66.

Valmont Industries (NYSE:VMI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.08. Valmont Industries had a return on equity of 22.27% and a net margin of 8.55%. The firm had revenue of $969.31 million during the quarter, compared to the consensus estimate of $976.04 million. Analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, June 27th. Valmont Industries's dividend payout ratio (DPR) is presently 15.83%.

Wall Street Analyst Weigh In

VMI has been the subject of a number of recent research reports. Wall Street Zen raised shares of Valmont Industries from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. William Blair upgraded shares of Valmont Industries from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd. Finally, 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 research report on Wednesday, April 23rd.

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.