Summit Global Investments Boosts Holdings in Valmont Industries, Inc. (NYSE:VMI)

Summit Global Investments boosted its holdings in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 47.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,544 shares of the industrial products company's stock after acquiring an additional 1,141 shares during the quarter. Summit Global Investments' holdings in Valmont Industries were worth $1,011,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. increased its stake in Valmont Industries by 0.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,950 shares of the industrial products company's stock worth $1,211,000 after acquiring an additional 34 shares during the last quarter. PNC Financial Services Group Inc. increased its position 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 purchasing an additional 35 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Valmont Industries by 16.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 36 shares during the last quarter. Arizona State Retirement System increased its position in shares of Valmont Industries by 0.7% during the 4th quarter. Arizona State Retirement System now owns 5,853 shares of the industrial products company's stock valued at $1,795,000 after purchasing an additional 38 shares during the last quarter. Finally, Diametric Capital LP increased its position in shares of Valmont Industries by 2.2% during the 4th quarter. Diametric Capital LP now owns 1,781 shares of the industrial products company's stock valued at $546,000 after purchasing an additional 39 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. DA Davidson lowered Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price target on the stock. in a research report on Wednesday, February 19th. Wall Street Zen upgraded shares of Valmont Industries from a "hold" rating to a "buy" rating in a research note on Saturday. Stifel Nicolaus boosted their price target on Valmont Industries from $343.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, William Blair upgraded shares of Valmont Industries from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 23rd.

Valmont Industries Trading Down 0.1%

VMI stock traded down $0.23 during midday trading on Wednesday, reaching $323.19. 30,938 shares of the company traded hands, compared to its average volume of 140,212. Valmont Industries, Inc. has a 52-week low of $244.83 and a 52-week 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 business has a 50 day moving average of $297.74 and a 200-day moving average of $317.59. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 18.81 and a beta of 1.13.

Valmont Industries (NYSE:VMI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 EPS 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 net margin of 8.55% and a return on equity of 23.15%. As a group, sell-side analysts expect that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a $0.68 dividend. The ex-dividend date is Friday, June 27th. This represents a $2.72 annualized dividend and a dividend yield of 0.84%. Valmont Industries's payout ratio 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.