Summit Global Investments Acquires New Shares in Valmont Industries, Inc. (NYSE:VMI)

Summit Global Investments acquired a new stake in Valmont Industries, Inc. (NYSE:VMI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,403 shares of the industrial products company’s stock, valued at approximately $737,000.

Other hedge funds have also recently bought and sold shares of the company. Covea Finance increased its stake in Valmont Industries by 29.9% in the 4th quarter. Covea Finance now owns 15,200 shares of the industrial products company’s stock valued at $4,661,000 after purchasing an additional 3,500 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Valmont Industries in the 3rd quarter valued at approximately $466,000. De Lisle Partners LLP increased its stake in Valmont Industries by 44.6% in the 3rd quarter. De Lisle Partners LLP now owns 18,800 shares of the industrial products company’s stock valued at $5,454,000 after purchasing an additional 5,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Valmont Industries by 70.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,244 shares of the industrial products company’s stock valued at $14,182,000 after buying an additional 19,096 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Valmont Industries during the 3rd quarter valued at $698,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Valmont Industries Price Performance

VMI stock opened at $285.69 on Monday. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $379.22. The stock’s fifty day simple moving average is $332.20 and its 200-day simple moving average is $319.40. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 16.63 and a beta of 0.98.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.21. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $3.18 earnings per share. Equities research analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be given 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 dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, March 28th. Valmont Industries’s dividend payout ratio (DPR) is 15.83%.

Wall Street Analysts Forecast Growth

VMI has been the topic of a number of analyst reports. William Blair cut Valmont Industries from an “outperform” rating to a “market perform” rating in a report on Friday. StockNews.com cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 19th. Stifel Nicolaus increased their target price on Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, DA Davidson cut Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a report on Wednesday, February 19th.

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.