OppenheimerFunds Inc. raised its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 14.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,514 shares of the industrial products company’s stock after buying an additional 698 shares during the period. OppenheimerFunds Inc.’s holdings in Valmont Industries were worth $807,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Impax Asset Management LTD grew its position in shares of Valmont Industries by 163.9% during the 4th quarter. Impax Asset Management LTD now owns 299,742 shares of the industrial products company’s stock valued at $49,712,000 after acquiring an additional 186,142 shares during the period. Neuberger Berman Group LLC grew its position in shares of Valmont Industries by 9.7% during the 1st quarter. Neuberger Berman Group LLC now owns 1,444,311 shares of the industrial products company’s stock valued at $211,299,000 after acquiring an additional 127,234 shares during the period. Alliancebernstein L.P. grew its position in shares of Valmont Industries by 541.0% during the 4th quarter. Alliancebernstein L.P. now owns 102,706 shares of the industrial products company’s stock valued at $17,034,000 after acquiring an additional 86,682 shares during the period. BlackRock Inc. grew its position in shares of Valmont Industries by 2.9% during the 1st quarter. BlackRock Inc. now owns 1,877,269 shares of the industrial products company’s stock valued at $274,645,000 after acquiring an additional 52,961 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of Valmont Industries by 64.8% during the 1st quarter. Thrivent Financial for Lutherans now owns 125,156 shares of the industrial products company’s stock valued at $18,310,000 after acquiring an additional 49,206 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.
VMI stock opened at $152.25 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.08 and a current ratio of 4.07. Valmont Industries, Inc. has a 12-month low of $137.90 and a 12-month high of $176.35. The stock has a market capitalization of $3.41 billion, a P/E ratio of 21.84, a PEG ratio of 1.94 and a beta of 1.03.
Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Wednesday, April 18th. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.07. Valmont Industries had a return on equity of 14.11% and a net margin of 4.15%. The company had revenue of $698.68 million for the quarter, compared to analysts’ expectations of $682.96 million. During the same period in the previous year, the firm posted $1.72 EPS. Valmont Industries’s revenue was up 9.6% compared to the same quarter last year. analysts expect that Valmont Industries, Inc. will post 8.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, June 28th. Valmont Industries’s payout ratio is 21.52%.
VMI has been the topic of a number of analyst reports. Boenning Scattergood restated a “buy” rating and set a $185.00 target price on shares of Valmont Industries in a research report on Thursday, April 19th. Stifel Nicolaus dropped their target price on Valmont Industries from $160.00 to $141.00 and set a “hold” rating on the stock in a research report on Monday, April 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $169.00.
Valmont Industries Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
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