Kennedy Capital Management LLC Sells 964 Shares of Valmont Industries, Inc. (NYSE:VMI)

Kennedy Capital Management LLC reduced its holdings in Valmont Industries, Inc. (NYSE:VMI) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,496 shares of the industrial products company’s stock after selling 964 shares during the quarter. Kennedy Capital Management LLC owned about 0.06% of Valmont Industries worth $2,624,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in VMI. Avior Wealth Management LLC raised its holdings in Valmont Industries by 188.9% in the 4th quarter. Avior Wealth Management LLC now owns 130 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 85 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Valmont Industries by 633.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 132 shares of the industrial products company’s stock worth $31,000 after buying an additional 114 shares during the period. AdvisorNet Financial Inc bought a new stake in Valmont Industries during the 4th quarter valued at approximately $44,000. Signaturefd LLC grew its holdings in shares of Valmont Industries by 37.3% during the 4th quarter. Signaturefd LLC now owns 206 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 56 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of Valmont Industries in the 4th quarter worth approximately $57,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on VMI shares. StockNews.com raised Valmont Industries from a “hold” rating to a “buy” rating in a research note on Thursday, July 18th. DA Davidson increased their price target on shares of Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Valmont Industries has a consensus rating of “Moderate Buy” and an average target price of $332.50.

Valmont Industries Stock Down 0.2 %

Shares of VMI traded down $0.73 during trading hours on Wednesday, hitting $299.75. The company had a trading volume of 8,719 shares, compared to its average volume of 177,884. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 39.40 and a beta of 1.03. The firm has a fifty day moving average price of $269.31 and a 200-day moving average price of $241.37. Valmont Industries, Inc. has a 52-week low of $188.63 and a 52-week high of $307.67. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53.

Valmont Industries (NYSE:VMI) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $1.08. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The business had revenue of $977.83 million during the quarter, compared to analysts’ expectations of $986.98 million. During the same period in the previous year, the company earned $3.54 earnings per share. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts forecast that Valmont Industries, Inc. will post 16.85 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.80%. Valmont Industries’s payout ratio is currently 31.62%.

Valmont Industries Company Profile

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.