Vaughan Nelson Investment Management L.P. purchased a new position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 95,635 shares of the industrial products company's stock, valued at approximately $22,332,000. Vaughan Nelson Investment Management L.P. owned 0.46% of Valmont Industries at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Valmont Industries by 2.1% during the first quarter. BlackRock Inc. now owns 2,092,948 shares of the industrial products company's stock worth $668,237,000 after purchasing an additional 42,982 shares during the period. Vanguard Group Inc. lifted its holdings in Valmont Industries by 3.6% in the third quarter. Vanguard Group Inc. now owns 2,067,641 shares of the industrial products company's stock valued at $555,409,000 after acquiring an additional 71,967 shares during the period. Impax Asset Management Group plc lifted its holdings in Valmont Industries by 22.6% in the third quarter. Impax Asset Management Group plc now owns 797,247 shares of the industrial products company's stock valued at $191,507,000 after acquiring an additional 146,798 shares during the period. JPMorgan Chase & Co. lifted its holdings in Valmont Industries by 19.9% in the first quarter. JPMorgan Chase & Co. now owns 639,546 shares of the industrial products company's stock valued at $204,195,000 after acquiring an additional 106,268 shares during the period. Finally, State Street Corp lifted its holdings in Valmont Industries by 1.9% in the first quarter. State Street Corp now owns 628,741 shares of the industrial products company's stock valued at $201,119,000 after acquiring an additional 11,847 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
VMI has been the subject of a number of recent analyst reports. StockNews.com raised Valmont Industries from a "hold" rating to a "buy" rating in a report on Saturday, March 23rd. Stifel Nicolaus reissued a "buy" rating and issued a $249.00 target price on shares of Valmont Industries in a report on Monday, March 25th. Finally, DA Davidson reduced their target price on Valmont Industries from $290.00 to $275.00 and set a "buy" rating for the company in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $262.00.
Get Our Latest Stock Analysis on VMI
Valmont Industries Price Performance
Shares of VMI stock traded up $3.45 during mid-day trading on Friday, reaching $224.19. The stock had a trading volume of 116,977 shares, compared to its average volume of 151,448. Valmont Industries, Inc. has a 12-month low of $188.63 and a 12-month high of $315.88. The company has a market cap of $4.53 billion, a P/E ratio of 33.26 and a beta of 1.03. The business has a 50-day simple moving average of $221.83 and a 200 day simple moving average of $222.94. The company has a current ratio of 2.47, a quick ratio of 1.56 and a debt-to-equity ratio of 0.82.
Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $3.18 earnings per share for the quarter, beating analysts' consensus estimates of $3.08 by $0.10. The business had revenue of $1,000.00 million during the quarter, compared to analysts' expectations of $1.04 billion. Valmont Industries had a return on equity of 20.69% and a net margin of 3.44%. The business's revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter last year, the business posted $3.46 earnings per share. On average, sell-side analysts anticipate that Valmont Industries, Inc. will post 14.75 earnings per share for the current year.
Valmont Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.07%. The ex-dividend date is Wednesday, March 27th. Valmont Industries's dividend payout ratio (DPR) is 35.61%.
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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