Hsbc Holdings PLC raised its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 535.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,062 shares of the industrial products company's stock after buying an additional 4,266 shares during the period. Hsbc Holdings PLC's holdings in Valmont Industries were worth $1,545,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 valued at $1,211,000 after purchasing an additional 34 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Valmont Industries by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the industrial products company's stock valued at $472,000 after buying an additional 35 shares in 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 buying an additional 36 shares in the last quarter. Arizona State Retirement System raised its stake 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 worth $1,795,000 after buying an additional 38 shares during the last quarter. Finally, Diametric Capital LP boosted its position in shares of Valmont Industries by 2.2% in the 4th quarter. Diametric Capital LP now owns 1,781 shares of the industrial products company's stock worth $546,000 after buying an additional 39 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.
Valmont Industries Trading Down 0.2 %
NYSE VMI traded down $0.46 during mid-day trading on Wednesday, reaching $302.74. 9,717 shares of the stock were exchanged, compared to its average volume of 144,271. The stock has a market capitalization of $6.08 billion, a PE ratio of 17.62 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.07. Valmont Industries, Inc. has a 1-year low of $244.83 and a 1-year high of $379.22. The business's fifty day simple moving average is $299.39 and its 200 day simple moving average is $319.01.
Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.08. The business had revenue of $969.31 million for the quarter, compared to analysts' expectations of $976.04 million. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. On average, research analysts anticipate that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.
Valmont Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, June 27th. Valmont Industries's dividend payout ratio is currently 15.83%.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. William Blair upgraded shares of Valmont Industries from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 23rd. StockNews.com downgraded Valmont Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 29th. Stifel Nicolaus increased their target price on Valmont Industries from $343.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, DA Davidson cut Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price target for the company. in a report on Wednesday, February 19th.
Read Our Latest Stock Analysis on Valmont Industries
About Valmont Industries
(
Free Report)
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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