SMART Wealth LLC Purchases Shares of 1,743 Valmont Industries, Inc. (NYSE:VMI)

SMART Wealth LLC purchased a new stake in Valmont Industries, Inc. (NYSE:VMI) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 1,743 shares of the industrial products company’s stock, valued at approximately $497,000.

Several other large investors have also recently added to or reduced their stakes in VMI. Steward Partners Investment Advisory LLC raised its holdings in Valmont Industries by 25.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,044 shares of the industrial products company’s stock valued at $320,000 after acquiring an additional 211 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Valmont Industries by 24.2% in the 4th quarter. Victory Capital Management Inc. now owns 6,068 shares of the industrial products company’s stock valued at $1,861,000 after acquiring an additional 1,184 shares in the last quarter. M&T Bank Corp raised its holdings in Valmont Industries by 5.9% in the 4th quarter. M&T Bank Corp now owns 1,144 shares of the industrial products company’s stock valued at $351,000 after acquiring an additional 64 shares in the last quarter. Arizona State Retirement System raised its holdings in Valmont Industries by 0.7% in the 4th quarter. Arizona State Retirement System now owns 5,853 shares of the industrial products company’s stock valued at $1,795,000 after acquiring an additional 38 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Valmont Industries in the 4th quarter valued at approximately $4,166,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VMI shares. Stifel Nicolaus increased their target price on Valmont Industries from $343.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Wall Street Zen raised Valmont Industries from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Finally, William Blair raised Valmont Industries from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 23rd.

Valmont Industries Trading Up 0.1%

Shares of VMI opened at $341.58 on Friday. Valmont Industries, Inc. has a 1 year low of $250.07 and a 1 year high of $379.22. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $318.08 and a 200-day simple moving average of $315.44. The stock has a market cap of $6.86 billion, a PE ratio of 19.88 and a beta of 1.12.

Valmont Industries (NYSE:VMI) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.08. Valmont Industries had a return on equity of 22.27% and a net margin of 8.55%. The business had revenue of $969.31 million during the quarter, compared to analysts’ expectations of $976.04 million. On average, sell-side analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, June 27th. This represents a $2.72 dividend on an annualized basis and a yield of 0.80%. Valmont Industries’s dividend payout ratio is 15.83%.

Valmont Industries Company 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.