Gamco Investors INC. ET AL decreased its position in shares of Valmont Industries, Inc. (NYSE:VMI – Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,990 shares of the industrial products company’s stock after selling 1,375 shares during the period. Gamco Investors INC. ET AL owned about 0.30% of Valmont Industries worth $23,171,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in VMI. Millennium Management LLC lifted its stake in Valmont Industries by 225.1% during the first quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company’s stock worth $19,300,000 after purchasing an additional 46,825 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Valmont Industries by 8.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company’s stock valued at $16,873,000 after purchasing an additional 4,676 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Valmont Industries during the 1st quarter worth $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Valmont Industries by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company’s stock worth $20,692,000 after buying an additional 2,639 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Valmont Industries by 223.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock worth $43,000 after buying an additional 105 shares during the last quarter. 87.84% of the stock is owned by institutional investors.
Valmont Industries Stock Performance
Valmont Industries stock opened at $486.07 on Friday. The business has a 50 day moving average of $538.15 and a 200-day moving average of $478.27. Valmont Industries, Inc. has a 1 year low of $353.41 and a 1 year high of $585.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.59. The company has a market capitalization of $9.43 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.11 and a beta of 1.33.
Valmont Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. Valmont Industries’s dividend payout ratio (DPR) is presently 11.99%.
Analyst Ratings Changes
A number of research firms recently issued reports on VMI. Weiss Ratings upgraded shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. boosted their target price on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stifel Nicolaus upped their price target on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Wall Street Zen upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $587.00.
About Valmont Industries
Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.
The company operates through several core business segments.
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