Norges Bank bought a new stake in Valmont Industries, Inc. (NYSE:VMI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 223,689 shares of the industrial products company’s stock, valued at approximately $24,818,000. Norges Bank owned about 1.01% of Valmont Industries as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC raised its position in shares of Valmont Industries by 96.3% in the fourth quarter. SG Americas Securities LLC now owns 6,839 shares of the industrial products company’s stock valued at $759,000 after buying an additional 3,355 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in shares of Valmont Industries in the third quarter valued at about $761,000. Blueshift Asset Management LLC acquired a new stake in shares of Valmont Industries in the fourth quarter valued at about $381,000. Robecosam AG raised its position in shares of Valmont Industries by 33.8% in the fourth quarter. Robecosam AG now owns 135,490 shares of the industrial products company’s stock valued at $14,739,000 after buying an additional 34,211 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Valmont Industries in the fourth quarter valued at about $13,296,000. Institutional investors and hedge funds own 87.22% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th. ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. TheStreet upgraded shares of Valmont Industries from a “c+” rating to a “b-” rating in a research report on Wednesday, March 13th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Valmont Industries in a research report on Thursday, February 21st. Four equities research analysts have rated the stock with a hold rating, Valmont Industries presently has an average rating of “Hold” and an average price target of $145.00.
Valmont Industries stock opened at $131.62 on Friday. Valmont Industries, Inc. has a 12-month low of $103.01 and a 12-month high of $157.15. The stock has a market cap of $2.89 billion, a P/E ratio of 17.36, a PEG ratio of 1.55 and a beta of 1.28. The company has a quick ratio of 2.34, a current ratio of 3.28 and a debt-to-equity ratio of 0.65.
Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Thursday, February 21st. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.90 by ($0.03). Valmont Industries had a return on equity of 14.72% and a net margin of 3.42%. The firm had revenue of $697.40 million for the quarter, compared to analyst estimates of $713.02 million. During the same quarter in the previous year, the business posted $1.67 earnings per share. Valmont Industries’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities research analysts predict that Valmont Industries, Inc. will post 8.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, March 28th. Valmont Industries’s payout ratio is currently 19.79%.
About Valmont Industries
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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