Zurcher Kantonalbank Zurich Cantonalbank Purchases 8,677 Shares of Valmont Industries, Inc. (NYSE:VMI)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Valmont Industries, Inc. (NYSE:VMI) by 18.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,921 shares of the industrial products company’s stock after acquiring an additional 8,677 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.27% of Valmont Industries worth $15,673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd boosted its holdings in Valmont Industries by 175.7% in 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 period. Quarry LP boosted its holdings in Valmont Industries by 395.1% in the 4th quarter. Quarry LP now owns 203 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 162 shares during the period. GAMMA Investing LLC boosted its holdings in Valmont Industries by 82.3% in the 1st quarter. GAMMA Investing LLC now owns 226 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 102 shares during the period. Signaturefd LLC boosted its holdings in Valmont Industries by 23.9% in the 1st quarter. Signaturefd LLC now owns 270 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 52 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in Valmont Industries by 19.1% in the 1st quarter. First Horizon Advisors Inc. now owns 392 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 63 shares during the period. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Valmont Industries Price Performance

Shares of NYSE:VMI opened at $362.91 on Wednesday. The firm has a 50 day moving average of $330.62 and a 200-day moving average of $319.86. The stock has a market capitalization of $7.28 billion, a PE ratio of 33.79 and a beta of 1.12. The company has a current ratio of 2.15, a quick ratio of 1.44 and a debt-to-equity ratio of 0.48. Valmont Industries, Inc. has a 12 month low of $250.07 and a 12 month high of $379.22.

Valmont Industries (NYSE:VMI) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 EPS for the quarter, beating the consensus estimate of $4.78 by $0.10. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Valmont Industries had a net margin of 5.98% and a return on equity of 22.10%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.91 EPS. On average, equities research analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

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

Valmont Industries Company 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.