KLP Kapitalforvaltning AS Buys New Stake in Valmont Industries, Inc. (NYSE:VMI)

KLP Kapitalforvaltning AS purchased a new position in shares of Valmont Industries, Inc. (NYSE:VMI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,900 shares of the industrial products company’s stock, valued at approximately $1,505,000.

Several other institutional investors and hedge funds have also made changes to their positions in VMI. Sunbelt Securities Inc. purchased a new stake in Valmont Industries during the third quarter worth approximately $35,000. Point72 Asset Management L.P. purchased a new stake in shares of Valmont Industries during the 3rd quarter worth approximately $58,000. Avior Wealth Management LLC boosted its holdings in shares of 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 in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Valmont Industries by 16.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company’s stock valued at $76,000 after buying an additional 36 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Valmont Industries by 83.4% during the 4th quarter. Venturi Wealth Management LLC now owns 310 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 141 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. William Blair lowered Valmont Industries from an “outperform” rating to a “market perform” rating in a report on Friday, March 21st. DA Davidson downgraded Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a research note on Wednesday, February 19th. Stifel Nicolaus boosted their price objective on Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, StockNews.com lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

Valmont Industries Stock Performance

Shares of VMI stock opened at $289.99 on Friday. The stock’s 50-day moving average price is $329.60 and its 200 day moving average price is $319.75. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $5.82 billion, a PE ratio of 16.88 and a beta of 0.98. Valmont Industries, Inc. has a 52-week low of $202.01 and a 52-week high of $379.22.

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

Valmont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be issued a $0.68 dividend. This is an increase from Valmont Industries’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.72 annualized dividend and a dividend yield of 0.94%. Valmont Industries’s payout ratio is presently 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.