Baird Financial Group Inc. Reduces Position in Valmont Industries, Inc. (NYSE:VMI)

Baird Financial Group Inc. reduced its stake in Valmont Industries, Inc. (NYSE:VMIGet Rating) by 0.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,728 shares of the industrial products company’s stock after selling 45 shares during the period. Baird Financial Group Inc.’s holdings in Valmont Industries were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of VMI. Pinebridge Investments L.P. purchased a new position in shares of Valmont Industries in the 2nd quarter valued at approximately $26,000. Quadrant Capital Group LLC grew its stake in shares of Valmont Industries by 69.6% in the 1st quarter. Quadrant Capital Group LLC now owns 117 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 48 shares during the last quarter. Covestor Ltd grew its stake in shares of Valmont Industries by 347.4% in the 1st quarter. Covestor Ltd now owns 170 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 132 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Valmont Industries in the 1st quarter valued at approximately $67,000. Finally, Van ECK Associates Corp grew its stake in shares of Valmont Industries by 50.0% in the 2nd quarter. Van ECK Associates Corp now owns 306 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 102 shares during the last quarter. 88.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VMI shares. TheStreet upgraded Valmont Industries from a “c+” rating to a “b+” rating in a research note on Thursday, August 25th. Stifel Nicolaus raised their price target on Valmont Industries from $277.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, October 11th. StockNews.com started coverage on Valmont Industries in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, DA Davidson raised their price target on Valmont Industries to $310.00 in a report on Tuesday, November 1st. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $305.50.

Valmont Industries Stock Up 0.5 %

VMI opened at $328.39 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.13 and a quick ratio of 1.27. The business has a 50 day simple moving average of $294.33 and a 200-day simple moving average of $267.82. The stock has a market capitalization of $7.00 billion, a P/E ratio of 29.80, a P/E/G ratio of 1.97 and a beta of 1.11. Valmont Industries, Inc. has a 12 month low of $203.30 and a 12 month high of $331.14.

Valmont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $2.20 annualized dividend and a yield of 0.67%. Valmont Industries’s dividend payout ratio is presently 19.96%.

About Valmont Industries

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Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Brazil, Denmark, and internationally. It operates through two segments: Infrastructure and Agriculture. The company manufactures and distributes engineered metal, steel, wood, 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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Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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