Valmont Industries, Inc. (NYSE:VMI) Shares Sold by Norden Group LLC

Norden Group LLC lessened its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 35.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,885 shares of the industrial products company’s stock after selling 1,052 shares during the quarter. Norden Group LLC’s holdings in Valmont Industries were worth $538,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. American Century Companies Inc. boosted its stake in shares of Valmont Industries by 58.6% during the 4th quarter. American Century Companies Inc. now owns 55,006 shares of the industrial products company’s stock worth $16,869,000 after purchasing an additional 20,332 shares during the last quarter. LPL Financial LLC boosted its position in Valmont Industries by 37.8% during the fourth quarter. LPL Financial LLC now owns 3,999 shares of the industrial products company’s stock worth $1,226,000 after acquiring an additional 1,098 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Valmont Industries by 161.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,616 shares of the industrial products company’s stock worth $2,336,000 after acquiring an additional 4,704 shares during the last quarter. Norges Bank acquired a new stake in Valmont Industries during the fourth quarter worth approximately $67,822,000. Finally, Pictet Asset Management Holding SA boosted its position in Valmont Industries by 11.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,100 shares of the industrial products company’s stock worth $951,000 after acquiring an additional 314 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VMI shares. DA Davidson raised their price objective on Valmont Industries from $380.00 to $400.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. William Blair upgraded Valmont Industries from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 23rd. Wall Street Zen raised Valmont Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Stifel Nicolaus raised their price target on Valmont Industries from $345.00 to $382.00 and gave the stock a “buy” rating in a research note on Monday, July 21st.

Valmont Industries Price Performance

VMI opened at $362.91 on Wednesday. The stock has a market capitalization of $7.28 billion, a PE ratio of 33.79 and a beta of 1.12. The company’s 50 day simple moving average is $330.62 and its 200 day simple moving average is $319.86. Valmont Industries, Inc. has a 1 year low of $250.07 and a 1 year high of $379.22. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.44 and a current ratio of 2.15.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.10. Valmont Industries had a net margin of 5.98% and a return on equity of 22.10%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $4.91 EPS. Valmont Industries’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Friday, September 26th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, September 26th. Valmont Industries’s payout ratio is currently 25.33%.

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.