Zurcher Kantonalbank Zurich Cantonalbank Acquires 8,677 Shares of Valmont Industries, Inc. (NYSE:VMI)

Key Points

• Zurcher Kantonalbank increased its stake in Valmont Industries by 18.8%, acquiring an additional 8,677 shares, bringing its total ownership to 54,921 shares valued at approximately $15.67 million.
• Analysts show optimism for Valmont Industries with price targets raised by firms like Stifel Nicolaus and DA Davidson, increasing from $345 to $382 and from $380 to $400, respectively.
• Valmont Industries declared a quarterly dividend of $0.68, indicating a 0.75% dividend yield, with the ex-dividend date set for September 26th.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 18.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,921 shares of the industrial products company's stock after buying an additional 8,677 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.27% of Valmont Industries worth $15,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of VMI. Principal Financial Group Inc. grew its stake in shares of Valmont Industries by 0.4% in the first quarter. Principal Financial Group Inc. now owns 46,566 shares of the industrial products company's stock worth $13,289,000 after purchasing an additional 172 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Valmont Industries by 82.3% in the first quarter. GAMMA Investing LLC now owns 226 shares of the industrial products company's stock worth $64,000 after buying an additional 102 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Valmont Industries by 18.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,579 shares of the industrial products company's stock worth $736,000 after buying an additional 393 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Valmont Industries by 16.1% in the first quarter. Janney Montgomery Scott LLC now owns 1,490 shares of the industrial products company's stock worth $425,000 after buying an additional 207 shares during the period. Finally, Aquatic Capital Management LLC lifted its holdings in shares of Valmont Industries by 16.2% during the fourth quarter. Aquatic Capital Management LLC now owns 6,602 shares of the industrial products company's stock valued at $2,025,000 after purchasing an additional 922 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Valmont Industries Stock Up 0.3%

Shares of VMI traded up $0.91 on Wednesday, hitting $364.09. 157,277 shares of the stock traded hands, compared to its average volume of 179,406. The company has a market capitalization of $7.31 billion, a PE ratio of 33.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.44 and a current ratio of 2.15. The business has a 50 day simple moving average of $331.64 and a 200 day simple moving average of $320.16. Valmont Industries, Inc. has a one year low of $250.07 and a one year high of $379.22.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 earnings per share for the quarter, beating 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 the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned $4.91 earnings per share. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts forecast that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, September 26th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Friday, September 26th. Valmont Industries's dividend payout ratio (DPR) is presently 25.33%.

Analysts Set New Price Targets

Several research firms have recently issued reports on VMI. DA Davidson lifted their target price on shares of Valmont Industries from $380.00 to $400.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Stifel Nicolaus lifted their target price on shares of Valmont Industries from $345.00 to $382.00 and gave the company a "buy" rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of Valmont Industries from a "hold" rating to a "buy" rating in a report on Saturday. Finally, William Blair upgraded shares of Valmont Industries from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd.

Valmont Industries 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.