Northern Trust Corp Purchases 34,666 Shares of Valmont Industries, Inc. (NYSE:VMI)

Northern Trust Corp raised its position in Valmont Industries, Inc. (NYSE:VMI) by 20.8% in the 4th quarter, Holdings Channel reports. The firm owned 201,559 shares of the industrial products company’s stock after buying an additional 34,666 shares during the period. Northern Trust Corp’s holdings in Valmont Industries were worth $61,812,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VMI. Covea Finance increased its position in shares of Valmont Industries by 29.9% in the 4th quarter. Covea Finance now owns 15,200 shares of the industrial products company’s stock valued at $4,661,000 after buying an additional 3,500 shares in the last quarter. Aquatic Capital Management LLC increased its holdings in shares of Valmont Industries by 16.2% in the fourth quarter. Aquatic Capital Management LLC now owns 6,602 shares of the industrial products company’s stock worth $2,025,000 after acquiring an additional 922 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Valmont Industries by 70.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,244 shares of the industrial products company’s stock worth $14,182,000 after purchasing an additional 19,096 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Valmont Industries by 16.9% during the 4th quarter. Nordea Investment Management AB now owns 17,421 shares of the industrial products company’s stock valued at $5,326,000 after purchasing an additional 2,521 shares in the last quarter. Finally, Trexquant Investment LP lifted its holdings in shares of Valmont Industries by 73.6% during the 4th quarter. Trexquant Investment LP now owns 30,325 shares of the industrial products company’s stock valued at $9,300,000 after purchasing an additional 12,854 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Valmont Industries Trading Down 1.1 %

NYSE:VMI opened at $303.23 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. Valmont Industries, Inc. has a twelve month low of $244.83 and a twelve month high of $379.22. The company has a market cap of $6.09 billion, a P/E ratio of 17.65 and a beta of 1.10. The business has a 50 day moving average price of $299.39 and a two-hundred day moving average price of $319.01.

Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.24 by $0.08. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. The business had revenue of $969.31 million during the quarter, compared to analysts’ expectations of $976.04 million. As a group, analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, June 27th. Valmont Industries’s dividend payout ratio is currently 15.83%.

Analysts Set New Price Targets

Several analysts have commented on the stock. William Blair upgraded shares of Valmont Industries from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 23rd. Stifel Nicolaus increased their price objective on shares of Valmont Industries from $343.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. DA Davidson cut 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, StockNews.com cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a report 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.