Raymond James & Associates cut its position in shares of Valmont Industries (NYSE:VMI) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,660 shares of the industrial products company’s stock after selling 395 shares during the quarter. Raymond James & Associates’ holdings in Valmont Industries were worth $2,100,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund grew its holdings in shares of Valmont Industries by 3.1% in the 3rd quarter. New York State Common Retirement Fund now owns 49,600 shares of the industrial products company’s stock worth $7,842,000 after acquiring an additional 1,500 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Valmont Industries by 144.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,172 shares of the industrial products company’s stock worth $343,000 after acquiring an additional 1,283 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Valmont Industries by 10.6% in the 3rd quarter. Legal & General Group Plc now owns 28,657 shares of the industrial products company’s stock worth $4,530,000 after acquiring an additional 2,746 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of Valmont Industries in the 3rd quarter worth $285,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Valmont Industries by 8.0% in the 3rd quarter. Wells Fargo & Company MN now owns 109,455 shares of the industrial products company’s stock worth $17,305,000 after acquiring an additional 8,068 shares during the last quarter. Institutional investors own 87.07% of the company’s stock.
A number of brokerages recently issued reports on VMI. Stifel Nicolaus restated a “hold” rating and issued a $181.00 target price (up from $174.00) on shares of Valmont Industries in a report on Tuesday, January 16th. Zacks Investment Research upgraded Valmont Industries from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Finally, Seaport Global Securities cut Valmont Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Valmont Industries currently has a consensus rating of “Hold” and a consensus target price of $173.75.
Valmont Industries (NYSE:VMI) last issued its earnings results on Wednesday, February 21st. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.02). The company had revenue of $714.98 million during the quarter, compared to analyst estimates of $724.03 million. Valmont Industries had a return on equity of 14.17% and a net margin of 4.23%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 earnings per share. research analysts expect that Valmont Industries will post 8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be given a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.50 annualized dividend and a dividend yield of 1.06%. Valmont Industries’s dividend payout ratio (DPR) is presently 21.52%.
Valmont Industries Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
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