Bank of America Corp DE Trims Position in Valmont Industries, Inc. (NYSE:VMI)

Bank of America Corp DE lessened its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 286,877 shares of the industrial products company’s stock after selling 7,486 shares during the quarter. Bank of America Corp DE’s holdings in Valmont Industries were worth $87,977,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of VMI. Aster Capital Management DIFC Ltd increased its position in Valmont Industries by 175.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 193 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 123 shares during the last quarter. Quarry LP increased its position in Valmont Industries by 395.1% in the fourth quarter. Quarry LP now owns 203 shares of the industrial products company’s stock worth $62,000 after buying an additional 162 shares in the last quarter. Avior Wealth Management LLC increased its position in Valmont Industries by 35.9% in the fourth quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock worth $65,000 after buying an additional 56 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Valmont Industries by 16.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company’s stock worth $76,000 after buying an additional 36 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in Valmont Industries by 83.4% in the fourth quarter. Venturi Wealth Management LLC now owns 310 shares of the industrial products company’s stock worth $95,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

VMI has been the subject of a number of analyst reports. William Blair upgraded Valmont Industries from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 23rd. Stifel Nicolaus upped their price target on Valmont Industries from $343.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. StockNews.com lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 29th. Finally, DA Davidson lowered Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research note on Wednesday, February 19th.

Valmont Industries Stock Performance

NYSE VMI opened at $308.61 on Monday. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 17.96 and a beta of 1.10. 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 business has a 50-day moving average price of $297.44 and a 200-day moving average price of $318.97. Valmont Industries, Inc. has a twelve month low of $244.83 and a twelve month high of $379.22.

Valmont Industries (NYSE:VMI) last released 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 firm had revenue of $969.31 million during 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, equities research analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, June 27th. Valmont Industries’s payout ratio is presently 15.83%.

About Valmont Industries

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.