Raymond James Financial Services Advisors Inc. raised its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 3.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 7,423 shares of the industrial products company’s stock after acquiring an additional 270 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Valmont Industries were worth $966,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of VMI. BlackRock Inc. lifted its stake in shares of Valmont Industries by 0.6% in the 4th quarter. BlackRock Inc. now owns 1,917,564 shares of the industrial products company’s stock worth $212,754,000 after purchasing an additional 12,067 shares during the period. Impax Asset Management Group plc increased its holdings in Valmont Industries by 2.3% in the 4th quarter. Impax Asset Management Group plc now owns 668,867 shares of the industrial products company’s stock worth $74,211,000 after acquiring an additional 14,797 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Valmont Industries by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 594,541 shares of the industrial products company’s stock worth $65,963,000 after acquiring an additional 7,032 shares in the last quarter. King Luther Capital Management Corp grew its holdings in Valmont Industries by 30.1% during the 4th quarter. King Luther Capital Management Corp now owns 511,020 shares of the industrial products company’s stock valued at $56,698,000 after buying an additional 118,378 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Valmont Industries by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 292,545 shares of the industrial products company’s stock valued at $32,458,000 after buying an additional 18,625 shares in the last quarter. Institutional investors and hedge funds own 86.28% of the company’s stock.
A number of equities research analysts have issued reports on VMI shares. TheStreet raised shares of Valmont Industries from a “c+” rating to a “b-” rating in a report on Wednesday, March 13th. ValuEngine downgraded Valmont Industries from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Finally, Stifel Nicolaus upgraded Valmont Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $135.00 to $153.00 in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $153.00.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.17. Valmont Industries had a return on equity of 14.70% and a net margin of 3.33%. The company had revenue of $692.10 million during the quarter, compared to the consensus estimate of $683.66 million. During the same period last year, the company earned $1.87 earnings per share. Valmont Industries’s revenue was down .9% on a year-over-year basis. On average, equities research analysts expect that Valmont Industries, Inc. will post 8.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.50 annualized dividend and a dividend yield of 1.17%. Valmont Industries’s dividend payout ratio (DPR) is 19.79%.
Valmont Industries Company Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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