Picton Mahoney Asset Management Purchases New Shares in Valmont Industries, Inc. (NYSE:VMI)

Picton Mahoney Asset Management acquired a new stake in Valmont Industries, Inc. (NYSE:VMI) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,816 shares of the industrial products company’s stock, valued at approximately $425,000.

Several other large investors have also recently added to or reduced their stakes in VMI. Impax Asset Management Group plc grew its stake in shares of Valmont Industries by 0.6% in the fourth quarter. Impax Asset Management Group plc now owns 802,356 shares of the industrial products company’s stock valued at $187,358,000 after acquiring an additional 5,109 shares in the last quarter. Copeland Capital Management LLC increased its holdings in shares of Valmont Industries by 36.9% during the fourth quarter. Copeland Capital Management LLC now owns 295,350 shares of the industrial products company’s stock worth $68,967,000 after purchasing an additional 79,647 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Valmont Industries by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 252,501 shares of the industrial products company’s stock valued at $58,962,000 after buying an additional 13,764 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Valmont Industries by 20.6% in the fourth quarter. Victory Capital Management Inc. now owns 246,757 shares of the industrial products company’s stock valued at $57,620,000 after buying an additional 42,173 shares during the period. Finally, Northern Trust Corp grew its position in Valmont Industries by 4.7% during the third quarter. Northern Trust Corp now owns 158,148 shares of the industrial products company’s stock worth $37,989,000 after buying an additional 7,092 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VMI. Stifel Nicolaus reaffirmed a “buy” rating and issued a $249.00 price objective on shares of Valmont Industries in a report on Monday, March 25th. StockNews.com raised shares of Valmont Industries from a “hold” rating to a “buy” rating in a research report on Saturday, March 23rd. Finally, DA Davidson reduced their price objective on shares of Valmont Industries from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Valmont Industries currently has a consensus rating of “Moderate Buy” and an average price target of $262.00.

Valmont Industries Price Performance

Shares of VMI stock opened at $253.28 on Thursday. The business has a fifty day simple moving average of $219.14 and a 200 day simple moving average of $220.59. Valmont Industries, Inc. has a twelve month low of $188.63 and a twelve month high of $303.57. The company has a quick ratio of 1.65, a current ratio of 2.64 and a debt-to-equity ratio of 0.79. The company has a market cap of $5.12 billion, a P/E ratio of 33.37 and a beta of 1.05.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $3.24 by $1.08. Valmont Industries had a return on equity of 22.14% and a net margin of 3.83%. The company had revenue of $977.83 million for the quarter, compared to the consensus estimate of $986.98 million. During the same quarter last year, the business posted $3.54 EPS. Valmont Industries’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Valmont Industries, Inc. will post 15.9 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, June 28th. Valmont Industries’s payout ratio is 31.62%.

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.