Arjuna Capital acquired a new stake in shares of Valmont Industries, Inc. (NYSE:VMI – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,006 shares of the industrial products company’s stock, valued at approximately $1,748,000.
A number of other institutional investors have also recently made changes to their positions in the business. Global Retirement Partners LLC increased its position in shares of Valmont Industries by 2,125.0% in the 1st quarter. Global Retirement Partners LLC now owns 89 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 85 shares during the period. Covestor Ltd grew its stake in Valmont Industries by 347.4% during 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. Fred Alger Management LLC increased its holdings in shares of Valmont Industries by 103.2% in the fourth quarter. Fred Alger Management LLC now owns 128 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 65 shares during the period. Parallel Advisors LLC raised its stake in shares of Valmont Industries by 333.3% in the first quarter. Parallel Advisors LLC now owns 182 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 140 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new position in shares of Valmont Industries in the fourth quarter worth about $58,000. Institutional investors and hedge funds own 84.15% of the company’s stock.
Wall Street Analyst Weigh In
VMI has been the topic of several research reports. Stifel Nicolaus cut their price target on shares of Valmont Industries from $334.00 to $298.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Northcoast Research lowered shares of Valmont Industries from a “buy” rating to a “neutral” rating in a research note on Thursday, October 26th. TheStreet downgraded shares of Valmont Industries from a “b” rating to a “c” rating in a research report on Wednesday, October 25th. StockNews.com downgraded Valmont Industries from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, DA Davidson decreased their price objective on Valmont Industries from $310.00 to $290.00 and set a “neutral” rating for the company in a report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $294.00.
Valmont Industries Price Performance
Shares of VMI stock traded up $0.81 during trading hours on Monday, hitting $202.57. 32,424 shares of the company’s stock were exchanged, compared to its average volume of 160,430. Valmont Industries, Inc. has a fifty-two week low of $188.63 and a fifty-two week high of $353.36. The firm has a market cap of $4.23 billion, a P/E ratio of 27.94, a P/E/G ratio of 1.13 and a beta of 1.10. The company has a quick ratio of 1.54, a current ratio of 2.49 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $228.75 and a two-hundred day moving average of $258.59.
Valmont Industries (NYSE:VMI – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.42. Valmont Industries had a net margin of 3.62% and a return on equity of 20.32%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the business posted $3.49 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts forecast that Valmont Industries, Inc. will post 14.83 EPS for the current year.
Valmont Industries Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, December 28th. Valmont Industries’s dividend payout ratio is presently 33.24%.
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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