Nordea Investment Management AB purchased a new position in shares of Valmont Industries, Inc. (NYSE:VMI – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,069 shares of the industrial products company’s stock, valued at approximately $1,782,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Psagot Value Holdings Ltd. Israel acquired a new position in shares of Valmont Industries in the first quarter worth approximately $182,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Valmont Industries by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,496 shares of the industrial products company’s stock worth $6,863,000 after acquiring an additional 220 shares during the period. ProShare Advisors LLC lifted its stake in shares of Valmont Industries by 35.6% in the first quarter. ProShare Advisors LLC now owns 1,881 shares of the industrial products company’s stock worth $601,000 after acquiring an additional 494 shares during the period. Toroso Investments LLC lifted its stake in shares of Valmont Industries by 136.3% in the first quarter. Toroso Investments LLC now owns 2,037 shares of the industrial products company’s stock worth $650,000 after acquiring an additional 1,175 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Valmont Industries by 41.2% in the first quarter. Ameriprise Financial Inc. now owns 56,234 shares of the industrial products company’s stock worth $17,955,000 after acquiring an additional 16,422 shares during the period. 84.15% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. DA Davidson cut their price objective on Valmont Industries from $310.00 to $290.00 and set a “neutral” rating on the stock in a research note on Monday, July 31st. StockNews.com started coverage on Valmont Industries in a research note on Thursday, August 17th. They issued a “buy” rating on the stock.
Check Out Our Latest Stock Report on Valmont Industries
Valmont Industries Price Performance
Shares of VMI opened at $238.86 on Friday. Valmont Industries, Inc. has a 52-week low of $236.98 and a 52-week high of $353.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.43 and a current ratio of 2.41. The business’s 50 day moving average price is $253.68 and its two-hundred day moving average price is $278.70. The firm has a market cap of $5.02 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.09.
Valmont Industries (NYSE:VMI – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.26. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.14 billion. Valmont Industries had a return on equity of 19.56% and a net margin of 6.37%. On average, equities analysts anticipate that Valmont Industries, Inc. will post 15.4 EPS for the current year.
Valmont Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.00%. Valmont Industries’s dividend payout ratio is 18.63%.
Valmont Industries Company Profile
Valmont Industries, Inc produces and sells metal products in the United States, Australia, Brazil, Denmark, and internationally. The company operates through two segments: Infrastructure and Agriculture. It manufactures and distributes steel, pre-stressed concrete, composite, and hybrid structures for lighting, transportation, and telecommunications equipment, as well as electrical transmission, distribution, substations, and renewable energy generation equipment; and provides coatings services to preserve metal products.
Further Reading
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