Lazard Asset Management LLC Trims Stock Holdings in Valmont Industries, Inc. (NYSE:VMI)

Lazard Asset Management LLC reduced its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 23.2% during the 4th quarter, HoldingsChannel reports. The firm owned 6,306 shares of the industrial products company’s stock after selling 1,900 shares during the period. Lazard Asset Management LLC’s holdings in Valmont Industries were worth $1,933,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Valmont Industries by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,990,839 shares of the industrial products company’s stock worth $610,531,000 after purchasing an additional 6,967 shares during the period. Franklin Resources Inc. boosted its position in Valmont Industries by 23.3% during the 4th quarter. Franklin Resources Inc. now owns 502,192 shares of the industrial products company’s stock valued at $154,007,000 after acquiring an additional 94,884 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Valmont Industries by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 425,178 shares of the industrial products company’s stock valued at $130,389,000 after acquiring an additional 9,201 shares in the last quarter. Earnest Partners LLC boosted its position in Valmont Industries by 4.3% during the 4th quarter. Earnest Partners LLC now owns 397,523 shares of the industrial products company’s stock valued at $121,908,000 after acquiring an additional 16,302 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in Valmont Industries by 0.4% during the 4th quarter. Segall Bryant & Hamill LLC now owns 289,922 shares of the industrial products company’s stock valued at $88,910,000 after acquiring an additional 1,289 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Stock Up 1.9%

Valmont Industries stock opened at $325.57 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 18.95 and a beta of 1.10. Valmont Industries, Inc. has a 1-year low of $244.83 and a 1-year high of $379.22. The business has a fifty day moving average price of $296.83 and a 200-day moving average price of $319.04.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.72 dividend on an annualized basis and a yield of 0.84%. Valmont Industries’s dividend payout ratio is currently 15.83%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VMI. Stifel Nicolaus increased their target price on Valmont Industries from $343.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. DA Davidson cut Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research report on Wednesday, February 19th. William Blair raised Valmont Industries from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 23rd. Finally, StockNews.com cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 29th.

Valmont Industries 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.