Highlander Capital Management LLC grew its holdings in Valmont Industries, Inc. (NYSE:VMI) by 103.9% in the first quarter, HoldingsChannel reports. The firm owned 9,225 shares of the industrial products company’s stock after purchasing an additional 4,700 shares during the period. Highlander Capital Management LLC’s holdings in Valmont Industries were worth $1,302,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Valmont Industries by 2.9% in the first quarter. BlackRock Inc. now owns 1,877,269 shares of the industrial products company’s stock worth $274,645,000 after acquiring an additional 52,961 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Valmont Industries by 9.7% in the first quarter. Neuberger Berman Group LLC now owns 1,444,311 shares of the industrial products company’s stock worth $211,299,000 after acquiring an additional 127,234 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Valmont Industries by 16.5% in the fourth quarter. Schroder Investment Management Group now owns 698,881 shares of the industrial products company’s stock worth $115,909,000 after acquiring an additional 98,823 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Valmont Industries by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 554,436 shares of the industrial products company’s stock worth $81,114,000 after acquiring an additional 14,834 shares during the last quarter. Finally, Fiduciary Management Inc. WI increased its position in Valmont Industries by 0.8% during the first quarter. Fiduciary Management Inc. WI now owns 327,682 shares of the industrial products company’s stock worth $47,940,000 after buying an additional 2,482 shares during the last quarter. 86.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Valmont Industries traded down $0.80, hitting $151.45, during mid-day trading on Thursday, according to Marketbeat Ratings. The company had a trading volume of 308 shares, compared to its average volume of 107,135. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.08 and a current ratio of 4.07. Valmont Industries, Inc. has a 12 month low of $137.90 and a 12 month high of $176.35. The stock has a market cap of $3.45 billion, a PE ratio of 21.87, a PEG ratio of 1.97 and a beta of 1.03.
Valmont Industries (NYSE:VMI) last released its earnings results on Wednesday, April 18th. The industrial products company reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.07. Valmont Industries had a net margin of 4.15% and a return on equity of 14.11%. The business had revenue of $698.68 million during the quarter, compared to analysts’ expectations of $682.96 million. During the same quarter last year, the company earned $1.72 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. research analysts forecast that Valmont Industries, Inc. will post 8.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, June 28th. Valmont Industries’s dividend payout ratio is 21.52%.
Several equities analysts have commented on the stock. Stifel Nicolaus lowered their target price on shares of Valmont Industries from $181.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Boenning Scattergood reaffirmed a “buy” rating and issued a $185.00 price target on shares of Valmont Industries in a research report on Thursday, April 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $169.00.
About Valmont Industries
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
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