Lazard Asset Management LLC Lowers Holdings in Valmont Industries, Inc. (NYSE:VMI)

Lazard Asset Management LLC cut its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 23.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of VMI. Norges Bank purchased a new stake in Valmont Industries during the 4th quarter valued at about $67,822,000. Franklin Resources Inc. boosted its holdings in Valmont Industries by 23.3% during the 4th 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 period. US Bancorp DE boosted its holdings 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 valued at $18,026,000 after acquiring an additional 56,079 shares during the period. Driehaus Capital Management LLC purchased a new stake in Valmont Industries during the 4th quarter valued at about $14,180,000. Finally, Northern Trust Corp boosted its holdings in Valmont Industries by 20.8% during the 4th quarter. Northern Trust Corp now owns 201,559 shares of the industrial products company's stock valued at $61,812,000 after acquiring an additional 34,666 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 29th. Stifel Nicolaus increased their target price on Valmont Industries from $343.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. DA Davidson lowered Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 target price for the company. in a research report on Wednesday, February 19th. Finally, William Blair raised Valmont Industries from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 23rd.

Valmont Industries Stock Performance

Shares of VMI stock traded down $0.18 on Friday, reaching $312.45. The stock had a trading volume of 66,272 shares, compared to its average volume of 140,721. The stock has a market cap of $6.27 billion, a P/E ratio of 18.19 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 debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.07. The company has a 50 day simple moving average of $296.00 and a 200 day simple moving average of $318.96.

Valmont Industries (NYSE:VMI - Get Free Report) last released its earnings results 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. The company had revenue of $969.31 million for the quarter, compared to the consensus estimate of $976.04 million. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. Equities research analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.72 annualized dividend and a yield of 0.87%. Valmont Industries's dividend payout ratio (DPR) is presently 15.83%.

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.