Blair William & Co. IL lessened its holdings in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,860 shares of the industrial products company’s stock after selling 5,321 shares during the period. Blair William & Co. IL owned about 0.20% of Valmont Industries worth $15,455,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of the business. First Horizon Corp purchased a new position in Valmont Industries during the third quarter worth approximately $29,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Valmont Industries in the third quarter valued at approximately $36,000. Farther Finance Advisors LLC raised its stake in shares of Valmont Industries by 357.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after buying an additional 75 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Valmont Industries by 93.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 128 shares of the industrial products company’s stock worth $42,000 after buying an additional 62 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Valmont Industries by 223.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company’s stock valued at $43,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.
Valmont Industries Stock Down 2.9%
VMI stock opened at $424.75 on Monday. Valmont Industries, Inc. has a one year low of $250.07 and a one year high of $487.58. The firm has a market cap of $8.30 billion, a PE ratio of 25.25 and a beta of 1.19. The firm’s 50 day moving average price is $445.39 and its 200-day moving average price is $414.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.58 and a current ratio of 2.35.
Valmont Industries Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 27th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Valmont Industries’s previous quarterly dividend of $0.68. Valmont Industries’s dividend payout ratio is 18.31%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on VMI. Wall Street Zen cut shares of Valmont Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Valmont Industries in a report on Monday, December 29th. DA Davidson lifted their target price on shares of Valmont Industries from $415.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Stifel Nicolaus boosted their target price on shares of Valmont Industries from $492.00 to $501.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Valmont Industries from $480.00 to $510.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $487.00.
Read Our Latest Stock Report on VMI
Valmont Industries Company Profile
Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.
The company operates through several core business segments.
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