Essex Investment Management Co. LLC Reduces Holdings in Valmont Industries, Inc. (NYSE:VMI)

Essex Investment Management Co. LLC trimmed its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 13.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,960 shares of the industrial products company's stock after selling 1,199 shares during the quarter. Essex Investment Management Co. LLC's holdings in Valmont Industries were worth $2,272,000 as of its most recent filing with the SEC.

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Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Valmont Industries in the 4th quarter valued at $67,822,000. Allianz Asset Management GmbH grew its holdings in Valmont Industries by 118.0% in the 1st quarter. Allianz Asset Management GmbH now owns 274,769 shares of the industrial products company's stock valued at $78,411,000 after buying an additional 148,740 shares in the last quarter. Franklin Resources Inc. grew its holdings in Valmont Industries by 23.3% in the 4th quarter. Franklin Resources Inc. now owns 502,192 shares of the industrial products company's stock valued at $154,007,000 after buying an additional 94,884 shares in the last quarter. GAMMA Investing LLC grew its holdings in Valmont Industries by 51,911.3% in the 1st quarter. GAMMA Investing LLC now owns 64,494 shares of the industrial products company's stock valued at $18,405,000 after buying an additional 64,370 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in Valmont Industries in the 4th quarter valued at $14,180,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. William Blair upgraded Valmont Industries from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd. DA Davidson increased their price target on Valmont Industries from $380.00 to $400.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Stifel Nicolaus increased their price target on Valmont Industries from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Wall Street Zen raised Valmont Industries from a "hold" rating to a "buy" rating in a research note on Saturday.

Get Our Latest Stock Report on VMI

Valmont Industries Trading Down 1.0%

NYSE:VMI opened at $357.81 on Tuesday. The firm has a market cap of $7.18 billion, a P/E ratio of 33.32 and a beta of 1.12. The company has a current ratio of 2.15, a quick ratio of 1.44 and a debt-to-equity ratio of 0.48. The stock's 50 day simple moving average is $329.76 and its 200-day simple moving average is $319.56. Valmont Industries, Inc. has a 12-month low of $250.07 and a 12-month high of $379.22.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 earnings per share for the quarter, beating analysts' consensus estimates of $4.78 by $0.10. Valmont Industries had a return on equity of 22.10% and a net margin of 5.98%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $4.91 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Friday, September 26th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.76%. Valmont Industries's dividend payout ratio is presently 25.33%.

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.

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