Valmont Industries, Inc. (NYSE:VMI) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,172 shares of the industrial products company’s stock after selling 4,200 shares during the period. Gabelli Funds LLC owned about 0.36% of Valmont Industries worth $21,826,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ontario Teachers Pension Plan Board acquired a new position in shares of Valmont Industries during the 4th quarter worth approximately $673,000. XTX Topco Ltd raised its holdings in shares of Valmont Industries by 9.8% in the fourth quarter. XTX Topco Ltd now owns 3,228 shares of the industrial products company’s stock worth $990,000 after acquiring an additional 287 shares during the last quarter. Icon Advisers Inc. Co. acquired a new position in shares of Valmont Industries in the fourth quarter worth $1,763,000. Mariner LLC lifted its position in shares of Valmont Industries by 7.4% in the fourth quarter. Mariner LLC now owns 1,210 shares of the industrial products company’s stock valued at $371,000 after acquiring an additional 83 shares in the last quarter. Finally, Barclays PLC increased its position in Valmont Industries by 28.0% during the 4th quarter. Barclays PLC now owns 18,542 shares of the industrial products company’s stock worth $5,686,000 after purchasing an additional 4,054 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

VMI has been the topic of a number of recent research reports. StockNews.com lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 29th. Stifel Nicolaus decreased their target price on shares of Valmont Industries from $425.00 to $343.00 and set a “buy” rating on the stock in a research report on Monday. 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, William Blair lowered Valmont Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, March 21st.

Valmont Industries Trading Down 0.4 %

Shares of VMI stock opened at $282.51 on Wednesday. The firm’s 50-day simple moving average is $314.34 and its 200-day simple moving average is $319.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.07 and a quick ratio of 1.55. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $379.22. The firm has a market cap of $5.67 billion, a P/E ratio of 16.44 and a beta of 1.07.

Valmont Industries (NYSE:VMI) last posted 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. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. During the same quarter last year, the firm posted $3.18 earnings per share. As a group, equities analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th were paid 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 0.96%. The ex-dividend date was Friday, March 28th. Valmont Industries’s 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.