PNC Financial Services Group Inc. Increases Stock Position in Valmont Industries, Inc. (NYSE:VMI)

PNC Financial Services Group Inc. lifted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,538 shares of the industrial products company’s stock after acquiring an additional 35 shares during the period. PNC Financial Services Group Inc.’s holdings in Valmont Industries were worth $472,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. purchased a new position in shares of Valmont Industries during the third quarter worth approximately $35,000. Point72 Asset Management L.P. purchased a new position in shares of Valmont Industries during the third quarter worth approximately $58,000. Avior Wealth Management LLC grew its position in shares of Valmont Industries by 35.9% during the fourth quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 56 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Valmont Industries by 16.9% during the fourth 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 last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Valmont Industries by 12.5% during the third quarter. First Horizon Advisors Inc. now owns 279 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 31 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $330.58 on Thursday. 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 stock has a fifty day moving average price of $332.14 and a 200 day moving average price of $318.72. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $379.22. The company has a market cap of $6.64 billion, a PE ratio of 19.24 and a beta of 0.98.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share 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 firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $3.18 earnings per share. Sell-side analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.72 dividend on an annualized basis and a yield of 0.82%. This is an increase from Valmont Industries’s previous quarterly dividend of $0.60. Valmont Industries’s dividend payout ratio (DPR) is 15.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VMI. Stifel Nicolaus raised their target price on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. 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 report on Wednesday, February 19th. Finally, StockNews.com downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

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.