M&T Bank Corp Cuts Stock Position in Valmont Industries, Inc. (NYSE:VMI)

M&T Bank Corp lowered its stake in Valmont Industries, Inc. (NYSE:VMI) by 30.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 794 shares of the industrial products company’s stock after selling 350 shares during the period. M&T Bank Corp’s holdings in Valmont Industries were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd boosted its stake in Valmont Industries by 175.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 193 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 123 shares during the last quarter. Quarry LP raised its holdings in Valmont Industries by 395.1% during the fourth quarter. Quarry LP now owns 203 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 162 shares during the period. GAMMA Investing LLC raised its holdings in Valmont Industries by 82.3% during the first quarter. GAMMA Investing LLC now owns 226 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 102 shares during the period. First Horizon Advisors Inc. raised its holdings in Valmont Industries by 19.1% during the first quarter. First Horizon Advisors Inc. now owns 392 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 63 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Valmont Industries during the fourth quarter valued at about $161,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Stifel Nicolaus lifted their price target on Valmont Industries from $343.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Wall Street Zen downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating in a research note on Friday. Finally, William Blair raised shares of Valmont Industries from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 23rd.

Valmont Industries Price Performance

Shares of VMI opened at $336.20 on Friday. The firm has a market capitalization of $6.75 billion, a PE ratio of 19.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.26 and a quick ratio of 1.50. Valmont Industries, Inc. has a 1-year low of $250.07 and a 1-year high of $379.22. The company’s fifty day moving average price is $325.94 and its 200-day moving average price is $317.44.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.24 by $0.08. The company had revenue of $969.31 million for the quarter, compared to analyst estimates of $976.04 million. Valmont Industries had a net margin of 8.55% and a return on equity of 22.27%. On average, equities research analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.72 annualized dividend and a dividend yield of 0.81%. Valmont Industries’s dividend payout ratio (DPR) is presently 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.