Diametric Capital LP Purchases 39 Shares of Valmont Industries, Inc. (NYSE:VMI)

Diametric Capital LP lifted its holdings in Valmont Industries, Inc. (NYSE:VMI) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,781 shares of the industrial products company’s stock after acquiring an additional 39 shares during the quarter. Diametric Capital LP’s holdings in Valmont Industries were worth $546,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Valmont Industries in the fourth quarter valued at about $67,822,000. Franklin Resources Inc. grew its stake in shares of Valmont Industries by 57.6% in the third quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock worth $123,512,000 after purchasing an additional 148,811 shares during the last quarter. US Bancorp DE increased its holdings in Valmont Industries by 2,077.0% during the 4th quarter. US Bancorp DE now owns 58,779 shares of the industrial products company’s stock valued at $18,026,000 after purchasing an additional 56,079 shares during the period. Wellington Management Group LLP raised its position in Valmont Industries by 16.3% during the 3rd quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company’s stock valued at $71,825,000 after purchasing an additional 34,772 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Valmont Industries in the 4th quarter worth approximately $8,275,000. 87.84% of the stock is owned by institutional investors.

Valmont Industries Stock Down 1.4 %

Shares of Valmont Industries stock opened at $285.43 on Tuesday. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 16.61 and a beta of 0.98. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $379.22. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $328.57 and its 200 day moving average is $320.57.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.21. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $3.18 earnings per share. Research analysts anticipate that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.95%. This is a boost from Valmont Industries’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 28th. Valmont Industries’s payout ratio is 15.83%.

Analysts Set New Price Targets

Several analysts recently weighed in on VMI shares. Stifel Nicolaus lifted their price target on shares of Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. StockNews.com lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday. William Blair downgraded shares of Valmont Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, March 21st. Finally, DA Davidson lowered shares of Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a report on Wednesday, February 19th.

About Valmont Industries

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.