12,581 Shares in Valmont Industries, Inc. (NYSE:VMI) Bought by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC purchased a new stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,581 shares of the industrial products company's stock, valued at approximately $2,938,000. Essex Investment Management Co. LLC owned 0.06% of Valmont Industries at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in Valmont Industries by 20.6% in the fourth quarter. Victory Capital Management Inc. now owns 246,757 shares of the industrial products company's stock valued at $57,620,000 after acquiring an additional 42,173 shares during the period. Nordea Investment Management AB raised its holdings in shares of Valmont Industries by 18.6% in the 4th quarter. Nordea Investment Management AB now owns 12,189 shares of the industrial products company's stock worth $2,863,000 after buying an additional 1,911 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Valmont Industries by 97.4% during the 3rd quarter. Hsbc Holdings PLC now owns 15,703 shares of the industrial products company's stock worth $3,807,000 after buying an additional 7,749 shares during the period. Hamel Associates Inc. boosted its stake in Valmont Industries by 1.2% in the 3rd quarter. Hamel Associates Inc. now owns 22,607 shares of the industrial products company's stock valued at $5,430,000 after buying an additional 260 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Valmont Industries by 21.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,622 shares of the industrial products company's stock valued at $379,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VMI shares. DA Davidson reduced their target price on shares of Valmont Industries from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Tuesday, February 27th. StockNews.com upgraded shares of Valmont Industries from a "hold" rating to a "buy" rating in a research report on Saturday, March 23rd. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $249.00 price objective on shares of Valmont Industries in a report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Valmont Industries currently has an average rating of "Moderate Buy" and a consensus target price of $262.00.

Valmont Industries Price Performance

NYSE VMI traded up $4.75 on Friday, hitting $260.25. 207,076 shares of the company were exchanged, compared to its average volume of 220,534. Valmont Industries, Inc. has a 1-year low of $188.63 and a 1-year high of $303.57. The firm has a 50 day moving average of $221.00 and a two-hundred day moving average of $220.89. The company has a current ratio of 2.64, a quick ratio of 1.65 and a debt-to-equity ratio of 0.79. The company has a market cap of $5.25 billion, a P/E ratio of 34.29 and a beta of 1.05.

Valmont Industries (NYSE:VMI - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $4.32 EPS for the quarter, beating the consensus estimate of $3.24 by $1.08. Valmont Industries had a net margin of 3.83% and a return on equity of 22.14%. The business had revenue of $977.83 million for the quarter, compared to analysts' expectations of $986.98 million. During the same period in the prior year, the firm earned $3.54 earnings per share. Valmont Industries's revenue was down 8.0% compared to the same quarter last year. On average, equities analysts predict that Valmont Industries, Inc. will post 16 EPS for the current year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.92%. Valmont Industries's payout ratio is currently 31.62%.

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.

Want to see what other hedge funds are holding VMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valmont Industries, Inc. (NYSE:VMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.