Wells Fargo & Company MN Raises Stock Holdings in Valmont Industries, Inc. (NYSE:VMI)

Wells Fargo & Company MN raised its holdings in Valmont Industries, Inc. (NYSE:VMI) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,577 shares of the industrial products company’s stock after purchasing an additional 481 shares during the period. Wells Fargo & Company MN’s holdings in Valmont Industries were worth $2,630,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. raised its stake in Valmont Industries by 0.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,950 shares of the industrial products company’s stock valued at $1,211,000 after buying an additional 34 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Valmont Industries by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the industrial products company’s stock valued at $472,000 after acquiring an additional 35 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Valmont Industries by 16.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 36 shares during the last quarter. Arizona State Retirement System boosted its holdings in Valmont Industries by 0.7% in the fourth quarter. Arizona State Retirement System now owns 5,853 shares of the industrial products company’s stock worth $1,795,000 after purchasing an additional 38 shares during the period. Finally, Diametric Capital LP increased its stake in Valmont Industries by 2.2% during the fourth quarter. Diametric Capital LP now owns 1,781 shares of the industrial products company’s stock valued at $546,000 after purchasing an additional 39 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of Valmont Industries from $343.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday. William Blair raised shares of Valmont Industries from a “market perform” rating to an “outperform” rating in a report on Wednesday. StockNews.com lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 29th. Finally, DA Davidson downgraded Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a report on Wednesday, February 19th.

Valmont Industries Trading Up 3.5 %

Shares of NYSE:VMI opened at $297.07 on Friday. Valmont Industries, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $379.22. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The company has a market cap of $5.96 billion, a PE ratio of 17.29 and a beta of 1.07. The company’s 50-day moving average price is $308.37 and its 200 day moving average price is $319.02.

Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.08. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The company had revenue of $969.31 million for the quarter, compared to analysts’ expectations of $976.04 million. Sell-side analysts anticipate that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.92%. This is a positive change from Valmont Industries’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 28th. Valmont Industries’s dividend payout ratio (DPR) is 15.83%.

Valmont Industries Profile

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.