Valmont Industries, Inc. (NYSE:VMI) Holdings Increased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Valmont Industries by 170.6% in Q1, owning 4,613 shares valued at approximately $1.3 million.
• Valmont Industries reported $4.88 EPS for the last quarter, surpassing analysts' expectations and showing a 1.0% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.68 per share, with an ex-dividend date on September 26th, representing a 0.7% dividend yield.

Mackenzie Financial Corp grew its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 170.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,613 shares of the industrial products company's stock after buying an additional 2,908 shares during the quarter. Mackenzie Financial Corp's holdings in Valmont Industries were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VMI. Aster Capital Management DIFC Ltd raised its position in shares of Valmont Industries by 175.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 193 shares of the industrial products company's stock worth $59,000 after buying an additional 123 shares in the last quarter. Quarry LP grew its stake 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 worth $62,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Valmont Industries by 82.3% in the 1st quarter. GAMMA Investing LLC now owns 226 shares of the industrial products company's stock worth $64,000 after purchasing an additional 102 shares during the last quarter. Signaturefd LLC grew its stake in shares of Valmont Industries by 23.9% in the 1st quarter. Signaturefd LLC now owns 270 shares of the industrial products company's stock worth $77,000 after purchasing an additional 52 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Valmont Industries by 19.1% in the 1st quarter. First Horizon Advisors Inc. now owns 392 shares of the industrial products company's stock worth $112,000 after purchasing an additional 63 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Valmont Industries Stock Performance

Shares of VMI opened at $365.02 on Tuesday. Valmont Industries, Inc. has a one year low of $250.07 and a one year high of $379.22. The company has a 50-day moving average of $334.64 and a two-hundred day moving average of $320.93. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of 33.99 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.15 and a quick ratio of 1.44.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 EPS for the quarter, topping the consensus estimate of $4.78 by $0.10. Valmont Industries had a net margin of 5.98% and a return on equity of 22.10%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the company posted $4.91 earnings per share. The business's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts expect that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Friday, September 26th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, September 26th. Valmont Industries's dividend payout ratio (DPR) is currently 25.33%.

Analyst Ratings Changes

VMI has been the topic of several recent research reports. William Blair raised shares of Valmont Industries from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 23rd. DA Davidson lifted their price objective on shares of Valmont Industries from $380.00 to $400.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Valmont Industries from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Stifel Nicolaus lifted their price objective on shares of Valmont Industries from $345.00 to $382.00 and gave the stock a "buy" rating in a research note on Monday, July 21st.

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.

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