Essex Investment Management Co. LLC Increases Stake in Valmont Industries, Inc. (NYSE:VMI)

Essex Investment Management Co. LLC grew its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,159 shares of the industrial products company’s stock after purchasing an additional 901 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Valmont Industries were worth $2,809,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in VMI. Sunbelt Securities Inc. bought a new stake in shares of Valmont Industries in the 3rd quarter worth approximately $35,000. Point72 Asset Management L.P. bought a new stake in Valmont Industries in the third quarter valued at $58,000. Avior Wealth Management LLC increased its position in Valmont Industries by 35.9% during the 4th quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 56 shares during the period. Huntington National Bank raised its holdings in Valmont Industries by 16.5% in the 3rd quarter. Huntington National Bank now owns 247 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 35 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Valmont Industries by 16.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 36 shares during the period. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on VMI shares. DA Davidson downgraded shares of Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research note on Wednesday, February 19th. StockNews.com lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus lifted their price target on Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th.

Valmont Industries Stock Down 0.6 %

Shares of Valmont Industries stock opened at $328.26 on Monday. Valmont Industries, Inc. has a 1 year low of $202.01 and a 1 year high of $379.22. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 19.11 and a beta of 0.98. The company has a 50-day moving average of $329.39 and a 200 day moving average of $316.76. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.21. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $3.18 EPS. As a group, sell-side analysts anticipate that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.

Valmont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.83%. This is an increase from Valmont Industries’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 28th. Valmont Industries’s dividend payout ratio is 15.83%.

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.