Canton Hathaway LLC Takes $385,000 Position in Valmont Industries, Inc. (NYSE:VMI)

Canton Hathaway LLC bought a new stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,350 shares of the industrial products company's stock, valued at approximately $385,000.

Several other institutional investors also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. lifted its holdings in Valmont Industries by 0.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,950 shares of the industrial products company's stock worth $1,211,000 after buying an additional 34 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Valmont Industries by 2.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the industrial products company's stock worth $472,000 after buying an additional 35 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Valmont Industries by 16.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company's stock worth $76,000 after buying an additional 36 shares during the period. Arizona State Retirement System lifted its holdings in Valmont Industries by 0.7% in the 4th quarter. Arizona State Retirement System now owns 5,853 shares of the industrial products company's stock worth $1,795,000 after buying an additional 38 shares during the period. Finally, Diametric Capital LP lifted its holdings in Valmont Industries by 2.2% in the 4th quarter. Diametric Capital LP now owns 1,781 shares of the industrial products company's stock worth $546,000 after buying an additional 39 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VMI shares. Stifel Nicolaus raised their target price on Valmont Industries from $343.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Wall Street Zen upgraded Valmont Industries from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Finally, William Blair upgraded Valmont Industries from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 23rd.

Valmont Industries Stock Performance

Shares of Valmont Industries stock traded down $2.00 during trading on Friday, hitting $318.70. 427,213 shares of the company's stock traded hands, compared to its average volume of 138,031. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.26 and a quick ratio of 1.50. Valmont Industries, Inc. has a 1 year low of $250.07 and a 1 year high of $379.22. The stock has a market capitalization of $6.40 billion, a P/E ratio of 18.55 and a beta of 1.13. The business has a 50-day simple moving average of $309.09 and a 200-day simple moving average of $315.25.

Valmont Industries (NYSE:VMI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $4.32 EPS 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 company had revenue of $969.31 million for the quarter, compared to analysts' expectations of $976.04 million. As a group, analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, June 27th. Valmont Industries's payout ratio is currently 15.83%.

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.