Vestcor Inc Reduces Position in Valmont Industries, Inc. (NYSE:VMI)

Vestcor Inc trimmed its position in Valmont Industries, Inc. (NYSE:VMI) by 41.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,600 shares of the industrial products company’s stock after selling 1,875 shares during the period. Vestcor Inc’s holdings in Valmont Industries were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Valmont Industries Price Performance

Shares of NYSE VMI opened at $327.63 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55. The firm’s 50 day simple moving average is $330.97 and its 200-day simple moving average is $317.81. Valmont Industries, Inc. has a 12 month low of $202.01 and a 12 month high of $379.22. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 19.07 and a beta of 0.98.

Valmont Industries (NYSE:VMI) last released 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 net margin of 8.55% and a return on equity of 23.15%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $3.18 earnings per share. Analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 28th will be issued a $0.68 dividend. This is a positive change from Valmont Industries’s previous quarterly dividend of $0.60. This represents a $2.72 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, March 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 15.83%.

Analyst Ratings Changes

A number of research firms have recently weighed in on VMI. Stifel Nicolaus increased their price objective on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, DA Davidson lowered Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research note on Wednesday, February 19th.

Valmont Industries 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.