Treasurer of the State of North Carolina Increases Position in Valmont Industries, Inc. (NYSE:VMI)

Treasurer of the State of North Carolina increased its stake in shares of Valmont Industries, Inc. (NYSE:VMIFree Report) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,200 shares of the industrial products company’s stock after purchasing an additional 90 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Valmont Industries were worth $2,148,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in VMI. Edmond DE Rothschild Holding S.A. bought a new position in Valmont Industries in the fourth quarter worth about $234,000. Hsbc Holdings PLC boosted its stake in Valmont Industries by 11.8% in the fourth quarter. Hsbc Holdings PLC now owns 17,557 shares of the industrial products company’s stock valued at $4,108,000 after acquiring an additional 1,854 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Valmont Industries by 3.7% in the fourth quarter. King Luther Capital Management Corp now owns 386,624 shares of the industrial products company’s stock valued at $90,281,000 after acquiring an additional 13,756 shares in the last quarter. Aigen Investment Management LP grew its holdings in Valmont Industries by 16.2% in the fourth quarter. Aigen Investment Management LP now owns 4,780 shares of the industrial products company’s stock worth $1,116,000 after purchasing an additional 665 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Valmont Industries during the fourth quarter worth $105,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on VMI shares. StockNews.com downgraded Valmont Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. DA Davidson dropped their price target on Valmont Industries from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $249.00 price objective on shares of Valmont Industries in a research report on Monday, March 25th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $262.00.

Check Out Our Latest Research Report on Valmont Industries

Valmont Industries Stock Performance

Shares of VMI stock opened at $253.67 on Friday. The business has a fifty day moving average of $235.69 and a 200 day moving average of $227.67. Valmont Industries, Inc. has a 1 year low of $188.63 and a 1 year high of $303.57. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.64 and a quick ratio of 1.65. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 33.42 and a beta of 1.04.

Valmont Industries (NYSE:VMIGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $1.08. The firm had revenue of $977.83 million during the quarter, compared to analysts’ expectations of $986.98 million. Valmont Industries had a return on equity of 22.14% and a net margin of 3.83%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the business posted $3.54 earnings per share. As a group, research analysts expect that Valmont Industries, Inc. will post 15.94 earnings per share for the current year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.95%. Valmont Industries’s payout ratio is currently 31.62%.

Valmont Industries Profile

(Free Report)

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.

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Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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