Summit Financial LLC Makes New $869,000 Investment in Valmont Industries, Inc. (NYSE:VMI)

Summit Financial LLC bought a new position in Valmont Industries, Inc. (NYSE:VMI) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,830 shares of the industrial products company’s stock, valued at approximately $869,000.

Other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in Valmont Industries in the 3rd quarter worth approximately $35,000. Point72 Asset Management L.P. acquired a new stake in shares of Valmont Industries in the third quarter worth $58,000. Avior Wealth Management LLC grew its holdings 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 valued at $65,000 after buying an additional 56 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Valmont Industries by 16.9% during the fourth 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 period. Finally, Venturi Wealth Management LLC lifted its stake in Valmont Industries by 83.4% in 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 hedge funds and other institutional investors.

Valmont Industries Trading Up 2.8 %

NYSE:VMI opened at $296.48 on Thursday. The company has a market capitalization of $5.95 billion, a P/E ratio of 17.26 and a beta of 0.98. The stock’s 50 day moving average price is $326.61 and its 200 day moving average price is $320.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.07. 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 quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.21. The business 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 earned $3.18 EPS. On average, research analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.68 per share. This is a positive change from Valmont Industries’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 28th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.92%. Valmont Industries’s dividend payout ratio is currently 15.83%.

Analyst Upgrades and Downgrades

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