Pier Capital LLC Has $7.66 Million Position in Valmont Industries, Inc. $VMI

Pier Capital LLC increased its position in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 101.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,026 shares of the industrial products company's stock after buying an additional 9,565 shares during the period. Pier Capital LLC owned 0.10% of Valmont Industries worth $7,655,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Community Bank N.A. acquired a new position in Valmont Industries in the third quarter worth approximately $25,000. First Horizon Corp bought a new position in shares of Valmont Industries in the third quarter valued at approximately $29,000. Abich Financial Wealth Management LLC bought a new position in shares of Valmont Industries in the third quarter valued at approximately $36,000. Farther Finance Advisors LLC raised its position in shares of Valmont Industries by 357.1% in the third quarter. Farther Finance Advisors LLC now owns 96 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 75 shares during the period. Finally, Montag A & Associates Inc. raised its position in shares of Valmont Industries by 1,428.6% in the fourth quarter. Montag A & Associates Inc. now owns 107 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Valmont Industries Stock Down 2.7%

Shares of NYSE VMI opened at $508.89 on Friday. The stock has a market cap of $9.88 billion, a PE ratio of 28.26 and a beta of 1.36. The business has a fifty day moving average of $435.69 and a two-hundred day moving average of $428.89. Valmont Industries, Inc. has a 52-week low of $304.48 and a 52-week high of $528.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 2.38.

Valmont Industries (NYSE:VMI - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.72 by $0.79. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $994.85 million. During the same period in the previous year, the business posted $4.32 earnings per share. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities research analysts expect that Valmont Industries, Inc. will post 22.78 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 26th. Valmont Industries's payout ratio is currently 17.10%.

Insider Activity

In other news, Director Mogens C. Bay sold 17,500 shares of the business's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the transaction, the director directly owned 112,309 shares in the company, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.42% of the company's stock.

Analyst Upgrades and Downgrades

VMI has been the topic of a number of recent analyst reports. DA Davidson lifted their price target on shares of Valmont Industries from $415.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, February 18th. Zacks Research upgraded shares of Valmont Industries from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 23rd. Stifel Nicolaus raised their price objective on shares of Valmont Industries from $497.00 to $541.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of Valmont Industries from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Valmont Industries in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $500.33.

Valmont Industries Profile

Valmont Industries, Inc NYSE: VMI is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont's solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.

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