Lazard Asset Management LLC lowered its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 23.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,306 shares of the industrial products company's stock after selling 1,900 shares during the quarter. Lazard Asset Management LLC's holdings in Valmont Industries were worth $1,933,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Valmont Industries by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,990,839 shares of the industrial products company's stock valued at $610,531,000 after acquiring an additional 6,967 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Valmont Industries by 23.3% during the fourth quarter. Franklin Resources Inc. now owns 502,192 shares of the industrial products company's stock valued at $154,007,000 after acquiring an additional 94,884 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Valmont Industries by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 425,178 shares of the industrial products company's stock valued at $130,389,000 after acquiring an additional 9,201 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Valmont Industries by 4.3% during the fourth quarter. Earnest Partners LLC now owns 397,523 shares of the industrial products company's stock valued at $121,908,000 after acquiring an additional 16,302 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Valmont Industries by 0.4% during the fourth quarter. Segall Bryant & Hamill LLC now owns 289,922 shares of the industrial products company's stock valued at $88,910,000 after acquiring an additional 1,289 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently commented on VMI shares. Stifel Nicolaus increased their price target on Valmont Industries from $343.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. William Blair raised shares of Valmont Industries from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd. StockNews.com cut shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 29th. Finally, DA Davidson downgraded shares of Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 target price on the stock. in a research note on Wednesday, February 19th.
Get Our Latest Stock Analysis on Valmont Industries
Valmont Industries Trading Down 2.2%
Valmont Industries stock traded down $7.04 during mid-day trading on Wednesday, hitting $313.05. The company's stock had a trading volume of 104,402 shares, compared to its average volume of 141,205. The firm has a market capitalization of $6.28 billion, a PE ratio of 18.22 and a beta of 1.10. Valmont Industries, Inc. has a 1 year low of $244.83 and a 1 year high of $379.22. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock's fifty day moving average is $296.78 and its two-hundred day moving average is $319.15.
Valmont Industries (NYSE:VMI - Get Free Report) last issued 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 company had revenue of $969.31 million during the quarter, compared to analyst estimates of $976.04 million. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. On average, analysts anticipate that Valmont Industries, Inc. will post 18.07 EPS for the current year.
Valmont Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, June 27th. Valmont Industries's payout ratio is currently 15.83%.
Valmont Industries Company Profile
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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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