D.A. Davidson & CO. lowered its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 24.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,560 shares of the industrial products company's stock after selling 11,371 shares during the period. D.A. Davidson & CO. owned about 0.17% of Valmont Industries worth $9,862,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of Valmont Industries by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the industrial products company's stock valued at $472,000 after buying an additional 35 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Valmont Industries by 0.7% during the fourth quarter. Arizona State Retirement System now owns 5,853 shares of the industrial products company's stock worth $1,795,000 after acquiring an additional 38 shares in the last quarter. Diametric Capital LP raised its stake in shares of Valmont Industries by 2.2% during the fourth quarter. Diametric Capital LP now owns 1,781 shares of the industrial products company's stock worth $546,000 after acquiring an additional 39 shares in the last quarter. TBH Global Asset Management LLC lifted its holdings in shares of Valmont Industries by 1.5% in the 1st quarter. TBH Global Asset Management LLC now owns 3,945 shares of the industrial products company's stock worth $1,126,000 after acquiring an additional 58 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Valmont Industries by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 2,347 shares of the industrial products company's stock valued at $669,000 after purchasing an additional 60 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.
Valmont Industries Trading Up 0.1%
Shares of Valmont Industries stock traded up $0.32 on Friday, hitting $341.58. The stock had a trading volume of 142,373 shares, compared to its average volume of 139,266. The company has a quick ratio of 1.50, a current ratio of 2.26 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 stock's 50-day simple moving average is $318.08 and its two-hundred day simple moving average is $315.44. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 19.88 and a beta of 1.12.
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, topping the consensus estimate of $4.24 by $0.08. The business had revenue of $969.31 million during the quarter, compared to analysts' expectations of $976.04 million. Valmont Industries had a return on equity of 22.27% and a net margin of 8.55%. As a group, sell-side analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current 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 issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.72 annualized dividend and a yield of 0.80%. Valmont Industries's dividend payout ratio (DPR) is presently 15.83%.
Wall Street Analyst Weigh In
VMI has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price 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. William Blair raised Valmont Industries from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 23rd. Finally, Wall Street Zen raised Valmont Industries from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st.
Get Our Latest Report on VMI
About Valmont Industries
(
Free Report)
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.
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