Oppenheimer Asset Management Inc. Acquires 34 Shares of Valmont Industries, Inc. (NYSE:VMI)

Oppenheimer Asset Management Inc. grew its holdings in Valmont Industries, Inc. (NYSE:VMI) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,950 shares of the industrial products company’s stock after acquiring an additional 34 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Valmont Industries were worth $1,211,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. FourThought Financial Partners LLC bought a new position in Valmont Industries in the 4th quarter worth $214,000. Colonial River Investments LLC increased its position in Valmont Industries by 7.5% in the fourth quarter. Colonial River Investments LLC now owns 1,456 shares of the industrial products company’s stock worth $447,000 after buying an additional 101 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Valmont Industries in the fourth quarter worth about $2,032,000. First Horizon Advisors Inc. lifted its position in shares of Valmont Industries by 17.9% during the 4th quarter. First Horizon Advisors Inc. now owns 329 shares of the industrial products company’s stock valued at $101,000 after buying an additional 50 shares in the last quarter. Finally, Olympiad Research LP bought a new position in shares of Valmont Industries during the 4th quarter valued at approximately $253,000. 87.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. StockNews.com cut shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th. DA Davidson downgraded shares of Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus upped their price objective on Valmont Industries from $387.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

Valmont Industries Trading Down 3.9 %

Valmont Industries stock opened at $334.82 on Tuesday. 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 firm’s 50 day moving average price is $327.55 and its 200-day moving average price is $315.35. Valmont Industries, Inc. has a 1 year low of $202.01 and a 1 year high of $379.22. The stock has a market cap of $6.71 billion, a P/E ratio of 19.49 and a beta of 1.05.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $3.18 EPS. On average, equities analysts predict that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal 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 an increase from Valmont Industries’s previous quarterly dividend of $0.60. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, March 28th. Valmont Industries’s payout ratio is currently 15.83%.

About Valmont Industries

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.