Pinebridge Investments L.P. Increases Stock Position in Valmont Industries, Inc. (NYSE:VMI)

Pinebridge Investments L.P. increased its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 26.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,864 shares of the industrial products company's stock after acquiring an additional 1,630 shares during the period. Pinebridge Investments L.P.'s holdings in Valmont Industries were worth $2,412,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Valmont Industries during the 4th quarter worth approximately $67,822,000. Franklin Resources Inc. raised its stake in shares of Valmont Industries by 57.6% in the third quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company's stock valued at $123,512,000 after acquiring an additional 148,811 shares in the last quarter. US Bancorp DE boosted its holdings in Valmont Industries by 2,077.0% in the fourth quarter. US Bancorp DE now owns 58,779 shares of the industrial products company's stock valued at $18,026,000 after purchasing an additional 56,079 shares during the period. Pennant Investors LP grew its stake in Valmont Industries by 72.5% during the 4th quarter. Pennant Investors LP now owns 69,000 shares of the industrial products company's stock worth $21,160,000 after purchasing an additional 29,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Valmont Industries during the 4th quarter worth about $8,275,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VMI has been the topic of a number of recent research reports. StockNews.com lowered shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 29th. DA Davidson cut shares of Valmont Industries from a "buy" rating to a "neutral" rating and set a $380.00 price objective for the company. in a research report on Wednesday, February 19th. William Blair raised Valmont Industries from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus raised their price target on Valmont Industries from $343.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd.

Valmont Industries Stock Up 3.6 %

Shares of NYSE VMI traded up $10.73 during mid-day trading on Friday, reaching $309.44. The company had a trading volume of 67,666 shares, compared to its average volume of 147,194. Valmont Industries, Inc. has a 52-week low of $225.00 and a 52-week high of $379.22. The stock has a market cap of $6.21 billion, a P/E ratio of 18.00 and a beta of 1.07. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a 50 day simple moving average of $301.84 and a two-hundred day simple moving average of $318.97.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.08. The firm had revenue of $969.31 million during 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%. Sell-side analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be issued a $0.68 dividend. The ex-dividend date is Friday, June 27th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.88%. Valmont Industries's payout ratio is 15.83%.

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.