Covea Finance Sells 900 Shares of Valmont Industries, Inc. (NYSE:VMI)

Covea Finance cut its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 5.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,300 shares of the industrial products company's stock after selling 900 shares during the quarter. Covea Finance owned 0.07% of Valmont Industries worth $4,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of VMI. Norges Bank bought a new position in shares of Valmont Industries during the 4th quarter worth approximately $67,822,000. Franklin Resources Inc. grew its position in Valmont Industries by 23.3% in the fourth quarter. Franklin Resources Inc. now owns 502,192 shares of the industrial products company's stock valued at $154,007,000 after purchasing an additional 94,884 shares in the last quarter. GAMMA Investing LLC increased its stake in Valmont Industries by 51,911.3% in the 1st quarter. GAMMA Investing LLC now owns 64,494 shares of the industrial products company's stock valued at $18,405,000 after buying an additional 64,370 shares during the last quarter. US Bancorp DE lifted its position in Valmont Industries by 2,077.0% during the 4th quarter. US Bancorp DE now owns 58,779 shares of the industrial products company's stock worth $18,026,000 after buying an additional 56,079 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of Valmont Industries during the 4th quarter worth about $14,180,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Valmont Industries Stock Performance

NYSE VMI traded up $2.09 during trading on Tuesday, reaching $325.36. 176,996 shares of the company's stock were exchanged, compared to its average volume of 138,126. Valmont Industries, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $379.22. The stock has a market capitalization of $6.53 billion, a P/E ratio of 18.94 and a beta of 1.13. The business has a 50 day moving average price of $309.86 and a 200-day moving average price of $315.14. 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 (NYSE:VMI - Get Free Report) last announced its quarterly 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. Valmont Industries had a return on equity of 22.27% and a net margin of 8.55%. The business had revenue of $969.31 million during the quarter, compared to the consensus estimate of $976.04 million. Sell-side analysts forecast that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, June 27th. This represents a $2.72 annualized dividend and a yield of 0.84%. Valmont Industries's dividend payout ratio (DPR) is presently 15.83%.

Wall Street Analyst Weigh In

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

Valmont Industries Company 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.