Baird Financial Group Inc. boosted its position in Valmont Industries, Inc. (NYSE:VMI) by 10.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,560 shares of the industrial products company’s stock after acquiring an additional 693 shares during the period. Baird Financial Group Inc.’s holdings in Valmont Industries were worth $1,132,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Valmont Industries by 0.3% during the first quarter. BlackRock Inc. now owns 1,910,182 shares of the industrial products company’s stock valued at $202,442,000 after buying an additional 5,856 shares during the period. Aperio Group LLC boosted its stake in Valmont Industries by 102.7% in the first quarter. Aperio Group LLC now owns 12,131 shares of the industrial products company’s stock worth $1,286,000 after buying an additional 6,146 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Valmont Industries by 18.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 18,896 shares of the industrial products company’s stock worth $2,003,000 after buying an additional 2,965 shares in the last quarter. Fifth Third Bancorp boosted its stake in Valmont Industries by 310.0% in the first quarter. Fifth Third Bancorp now owns 410 shares of the industrial products company’s stock worth $43,000 after buying an additional 310 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Valmont Industries by 9.5% in the first quarter. Rhumbline Advisers now owns 57,926 shares of the industrial products company’s stock worth $6,139,000 after buying an additional 5,039 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.
Shares of NYSE:VMI opened at $126.47 on Wednesday. Valmont Industries, Inc. has a 1-year low of $82.60 and a 1-year high of $154.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.45 and a quick ratio of 1.70. The business has a fifty day moving average price of $126.20 and a 200-day moving average price of $114.26. The company has a market capitalization of $2.70 billion, a PE ratio of 19.28 and a beta of 1.28.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.56. Valmont Industries had a return on equity of 14.67% and a net margin of 5.17%. The firm had revenue of $688.81 million during the quarter, compared to the consensus estimate of $648.80 million. On average, sell-side analysts anticipate that Valmont Industries, Inc. will post 7.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, September 24th. This represents a $1.80 annualized dividend and a dividend yield of 1.42%. Valmont Industries’s payout ratio is presently 25.50%.
A number of brokerages recently commented on VMI. Stifel Nicolaus upped their target price on Valmont Industries from $144.00 to $153.00 and gave the company a “buy” rating in a report on Friday, July 24th. ValuEngine downgraded Valmont Industries from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Finally, Zacks Investment Research upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating and set a $123.00 price objective for the company in a report on Friday, July 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $133.67.
Valmont Industries Profile
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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