Envestnet Asset Management Inc. decreased its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 22.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,387 shares of the company’s stock after selling 698 shares during the period. Envestnet Asset Management Inc.’s holdings in Valmont Industries were worth $336,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in VMI. Elkfork Partners LLC purchased a new position in Valmont Industries during the fourth quarter valued at $162,000. LS Investment Advisors LLC boosted its position in Valmont Industries by 6.7% in the third quarter. LS Investment Advisors LLC now owns 1,482 shares of the company’s stock valued at $199,000 after buying an additional 93 shares during the last quarter. ARGI Investment Services LLC purchased a new position in Valmont Industries during the third quarter valued at $205,000. Cypress Asset Management Inc. TX purchased a new position in Valmont Industries during the third quarter valued at $205,000. Finally, World Asset Management Inc purchased a new position in Valmont Industries during the third quarter valued at $223,000. 83.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Valmont Industries, Inc. (NYSE:VMI) opened at 150.35 on Friday. The stock has a 50 day moving average price of $150.53 and a 200 day moving average price of $141.07. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 19.71 and a beta of 0.98. Valmont Industries, Inc. has a 1-year low of $117.10 and a 1-year high of $165.20.
Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Tuesday, February 21st. The company reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.16. Valmont Industries had a net margin of 2.93% and a return on equity of 14.27%. The business had revenue of $674.60 million for the quarter, compared to analyst estimates of $630.67 million. Equities research analysts anticipate that Valmont Industries, Inc. will post $7.06 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, March 29th. Valmont Industries’s dividend payout ratio is currently 46.88%.
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Several research firms have recently weighed in on VMI. Zacks Investment Research raised Valmont Industries from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Thursday, March 2nd. Stifel Nicolaus increased their price target on Valmont Industries to $160.00 and gave the company a “hold” rating in a report on Thursday, February 23rd. Finally, TheStreet cut Valmont Industries from a “buy” rating to a “hold” rating in a report on Thursday, December 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $143.25.
In other Valmont Industries news, Director Clark T. Jr. Randt sold 1,000 shares of Valmont Industries stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $155.30, for a total value of $155,300.00. Following the transaction, the director now directly owns 5,979 shares of the company’s stock, valued at $928,538.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mogens C. Bay sold 50,000 shares of Valmont Industries stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $159.49, for a total transaction of $7,974,500.00. Following the completion of the transaction, the chairman now directly owns 285,789 shares in the company, valued at $45,580,487.61. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.
About Valmont Industries
Valmont Industries, Inc is a producer of fabricated metal products. The Company’s Engineered Support Structures segment manufactures and distributes engineered metal and composite structures and components for global lighting and traffic, wireless communication, and roadway safety. The Utility Support Structures segment manufactures engineered steel and concrete structures for the utility industry.
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