Millennium Management LLC Sells 12,897 Shares of Valmont Industries, Inc. (NYSE:VMI)

Millennium Management LLC reduced its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 38.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,805 shares of the industrial products company's stock after selling 12,897 shares during the quarter. Millennium Management LLC owned approximately 0.10% of Valmont Industries worth $6,380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aster Capital Management DIFC Ltd grew its position in Valmont Industries by 175.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 193 shares of the industrial products company's stock valued at $59,000 after purchasing an additional 123 shares in the last quarter. Quarry LP grew its holdings in shares of Valmont Industries by 395.1% in the 4th quarter. Quarry LP now owns 203 shares of the industrial products company's stock valued at $62,000 after acquiring an additional 162 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Valmont Industries by 35.9% in the fourth quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company's stock valued at $65,000 after acquiring an additional 56 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Valmont Industries by 16.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company's stock valued at $76,000 after acquiring an additional 36 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Valmont Industries by 83.4% during the fourth quarter. Venturi Wealth Management LLC now owns 310 shares of the industrial products company's stock worth $95,000 after acquiring an additional 141 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Valmont Industries Stock Performance

Shares of NYSE:VMI traded up $0.88 on Friday, hitting $318.21. The company had a trading volume of 136,148 shares, compared to its average volume of 140,583. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 18.52 and a beta of 1.10. The stock has a 50 day moving average price of $296.53 and a 200 day moving average price of $318.19. 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.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.08. The business had revenue of $969.31 million for the quarter, compared to analyst estimates of $976.04 million. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. Analysts expect 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. Investors of record on Friday, June 27th will be paid a $0.68 dividend. The ex-dividend date is Friday, June 27th. This represents a $2.72 annualized dividend and a dividend yield of 0.85%. Valmont Industries's dividend payout ratio (DPR) is presently 15.83%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VMI. Wall Street Zen downgraded shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 29th. William Blair raised shares of Valmont Industries from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd. Stifel Nicolaus lifted their price target on Valmont Industries from $343.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, DA Davidson lowered Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price objective on the stock. in a research note on Wednesday, February 19th.

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.