Victory Capital Management Inc. Increases Position in Valmont Industries, Inc. (NYSE:VMI)

Victory Capital Management Inc. increased its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,068 shares of the industrial products company’s stock after acquiring an additional 1,184 shares during the quarter. Victory Capital Management Inc.’s holdings in Valmont Industries were worth $1,861,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in shares of Valmont Industries in the third quarter valued at $35,000. Point72 Asset Management L.P. acquired a new stake in Valmont Industries in the 3rd quarter worth about $58,000. Avior Wealth Management LLC grew 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 valued at $65,000 after buying an additional 56 shares during the period. Huntington National Bank increased its stake in shares of Valmont Industries by 16.5% during the 3rd quarter. Huntington National Bank now owns 247 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 35 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Valmont Industries by 16.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 36 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Stifel Nicolaus increased their price target 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 Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, DA Davidson downgraded Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research report on Wednesday, February 19th.

Valmont Industries Price Performance

VMI opened at $327.21 on Tuesday. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $379.22. The company has a 50 day moving average of $331.36 and a two-hundred day moving average of $318.38. The company has a market cap of $6.57 billion, a P/E ratio of 19.05 and a beta of 0.98. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share for the quarter, topping 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $3.18 EPS. On average, analysts expect that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Increases Dividend

The business also recently declared 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 represents a $2.72 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Valmont Industries’s previous quarterly dividend of $0.60. Valmont Industries’s dividend payout ratio is currently 15.83%.

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.