Global Retirement Partners LLC raised its holdings in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 2,125.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89 shares of the industrial products company’s stock after purchasing an additional 85 shares during the period. Global Retirement Partners LLC’s holdings in Valmont Industries were worth $26,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Exchange Traded Concepts LLC purchased a new position in shares of Valmont Industries during the fourth quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Valmont Industries during the fourth quarter valued at approximately $36,000. Covestor Ltd lifted its stake in shares of Valmont Industries by 347.4% during the first quarter. Covestor Ltd now owns 170 shares of the industrial products company’s stock valued at $41,000 after buying an additional 132 shares during the period. Fred Alger Management LLC lifted its stake in shares of Valmont Industries by 103.2% during the fourth quarter. Fred Alger Management LLC now owns 128 shares of the industrial products company’s stock valued at $42,000 after buying an additional 65 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Valmont Industries by 333.3% during the first quarter. Parallel Advisors LLC now owns 182 shares of the industrial products company’s stock valued at $58,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 85.39% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on VMI shares. DA Davidson dropped their price target on shares of Valmont Industries from $310.00 to $290.00 and set a “neutral” rating for the company in a research report on Monday, July 31st. StockNews.com started coverage on shares of Valmont Industries in a research report on Thursday. They set a “buy” rating for the company.
Valmont Industries Price Performance
Valmont Industries stock opened at $243.99 on Thursday. Valmont Industries, Inc. has a 52-week low of $241.13 and a 52-week high of $353.36. The firm has a fifty day moving average of $276.20 and a 200-day moving average of $292.85. The firm has a market capitalization of $5.13 billion, a P/E ratio of 18.94, a PEG ratio of 1.33 and a beta of 1.08. The company has a quick ratio of 1.43, a current ratio of 2.41 and a debt-to-equity ratio of 0.57.
Valmont Industries (NYSE:VMI – Get Free Report) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.26. Valmont Industries had a net margin of 6.37% and a return on equity of 19.56%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.14 billion. As a group, analysts predict that Valmont Industries, Inc. will post 15.37 EPS for the current year.
Valmont Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, September 28th. Valmont Industries’s payout ratio is currently 18.63%.
Valmont Industries Company Profile
Valmont Industries, Inc produces and sells metal products in the United States, Australia, Brazil, Denmark, and internationally. The company operates through two segments: Infrastructure and Agriculture. It manufactures and distributes steel, pre-stressed concrete, composite, and hybrid structures for lighting, transportation, and telecommunications equipment, as well as electrical transmission, distribution, substations, and renewable energy generation equipment; and provides coatings services to preserve metal products.
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