Lazard Asset Management LLC Sells 1,900 Shares of Valmont Industries, Inc. (NYSE:VMI)

Lazard Asset Management LLC decreased its holdings in Valmont Industries, Inc. (NYSE:VMI) by 23.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,306 shares of the industrial products company’s stock after selling 1,900 shares during the period. Lazard Asset Management LLC’s holdings in Valmont Industries were worth $1,933,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its stake in shares of Valmont Industries by 0.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,950 shares of the industrial products company’s stock worth $1,211,000 after acquiring an additional 34 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Valmont Industries by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the industrial products company’s stock worth $472,000 after acquiring an additional 35 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Valmont Industries by 16.9% in 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 period. Arizona State Retirement System boosted its stake in shares of Valmont Industries by 0.7% in the fourth quarter. Arizona State Retirement System now owns 5,853 shares of the industrial products company’s stock worth $1,795,000 after acquiring an additional 38 shares during the period. Finally, Diametric Capital LP boosted its stake in Valmont Industries by 2.2% during the fourth quarter. Diametric Capital LP now owns 1,781 shares of the industrial products company’s stock valued at $546,000 after buying an additional 39 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Price Performance

NYSE:VMI opened at $325.57 on Friday. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 18.95 and a beta of 1.10. Valmont Industries, Inc. has a 1 year low of $244.83 and a 1 year high of $379.22. The business has a 50 day simple moving average of $296.83 and a 200-day simple moving average of $319.04. 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 (NYSE:VMI) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.08. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. The business had revenue of $969.31 million during the quarter, compared to analyst estimates of $976.04 million. Equities analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.72 annualized dividend and a dividend yield of 0.84%. Valmont Industries’s payout ratio is 15.83%.

Wall Street Analyst Weigh In

VMI has been the subject of a number of research reports. William Blair raised Valmont Industries from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 23rd. Stifel Nicolaus increased their price target on Valmont Industries from $343.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. DA Davidson lowered Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research note on Wednesday, February 19th. Finally, StockNews.com lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 29th.

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.