Raiffeisen Bank International AG Takes $7.64 Million Position in Valmont Industries, Inc. (NYSE:VMI)

Raiffeisen Bank International AG acquired a new stake in Valmont Industries, Inc. (NYSE:VMI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,000 shares of the industrial products company’s stock, valued at approximately $7,635,000.

A number of other hedge funds also recently made changes to their positions in VMI. Norges Bank acquired a new stake in Valmont Industries during the 4th quarter worth approximately $67,822,000. Franklin Resources Inc. lifted its holdings in Valmont Industries by 23.3% during the 4th quarter. Franklin Resources Inc. now owns 502,192 shares of the industrial products company’s stock worth $154,007,000 after purchasing an additional 94,884 shares during the last quarter. US Bancorp DE lifted its holdings in Valmont Industries by 2,077.0% during the 4th quarter. US Bancorp DE now owns 58,779 shares of the industrial products company’s stock worth $18,026,000 after purchasing an additional 56,079 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in Valmont Industries during the 4th quarter worth approximately $14,180,000. Finally, Northern Trust Corp lifted its holdings in Valmont Industries by 20.8% during the 4th quarter. Northern Trust Corp now owns 201,559 shares of the industrial products company’s stock worth $61,812,000 after purchasing an additional 34,666 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on VMI shares. DA Davidson cut Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a report on Wednesday, February 19th. StockNews.com cut Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 29th. William Blair raised Valmont Industries from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus lifted their price objective on Valmont Industries from $343.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd.

Valmont Industries Trading Up 0.1%

Shares of VMI stock opened at $318.49 on Friday. The firm has a market capitalization of $6.39 billion, a P/E ratio of 18.54 and a beta of 1.10. Valmont Industries, Inc. has a twelve month low of $244.83 and a twelve month high of $379.22. 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’s fifty day simple moving average is $296.76 and its 200 day simple moving average is $318.97.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.08. The business had revenue of $969.31 million for the quarter, compared to analyst estimates of $976.04 million. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. As a group, sell-side analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.72 dividend on an annualized basis and a yield of 0.85%. Valmont Industries’s dividend payout ratio is currently 15.83%.

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.