Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI – Free Report) by 3.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 252,605 shares of the industrial products company’s stock after acquiring an additional 9,130 shares during the quarter. Valmont Industries accounts for approximately 1.0% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 27th largest position. Vaughan Nelson Investment Management L.P.’s holdings in Valmont Industries were worth $100,933,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Congress Asset Management Co. boosted its holdings in shares of Valmont Industries by 14.1% during the fourth quarter. Congress Asset Management Co. now owns 85,346 shares of the industrial products company’s stock worth $34,336,000 after acquiring an additional 10,518 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of Valmont Industries during the third quarter worth approximately $1,749,000. Dakota Wealth Management acquired a new stake in Valmont Industries during the 4th quarter worth approximately $581,000. Hillsdale Investment Management Inc. lifted its holdings in Valmont Industries by 27.2% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 12,155 shares of the industrial products company’s stock worth $4,713,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Valmont Industries by 6,762.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,853 shares of the industrial products company’s stock valued at $3,562,000 after purchasing an additional 8,724 shares during the period. Institutional investors own 87.84% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 31st. Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Stifel Nicolaus boosted their price target on Valmont Industries from $541.00 to $645.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. raised their price objective on Valmont Industries from $520.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Finally, Oppenheimer set a $600.00 price objective on Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.75.
Valmont Industries Stock Up 0.2%
Shares of NYSE:VMI opened at $571.52 on Monday. Valmont Industries, Inc. has a 52-week low of $316.56 and a 52-week high of $579.80. The company has a market capitalization of $11.09 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 1.31 and a beta of 1.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 2.38. The company has a fifty day moving average of $503.54 and a 200-day moving average of $455.50.
Valmont Industries (NYSE:VMI – Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.79. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.32 earnings per share. On average, equities analysts predict that Valmont Industries, Inc. will post 22.83 EPS for the current fiscal year.
Valmont Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Friday, June 26th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, June 26th. Valmont Industries’s dividend payout ratio (DPR) is currently 17.10%.
Insider Buying and Selling
In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the sale, the director owned 112,309 shares in the company, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.42% of the company’s stock.
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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