StockNews.com Begins Coverage on Valmont Industries (NYSE:VMI)

StockNews.com started coverage on shares of Valmont Industries (NYSE:VMI – Get Rating) in a research note issued to investors on Thursday morning. The firm issued a buy rating on the industrial products company’s stock.

Several other analysts have also recently issued reports on VMI. Stifel Nicolaus increased their target price on shares of Valmont Industries from $385.00 to $389.00 and gave the stock a buy rating in a research note on Friday, January 20th. DA Davidson reiterated a neutral rating on shares of Valmont Industries in a research note on Friday, February 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Valmont Industries presently has a consensus rating of Moderate Buy and an average price target of $324.00.

Valmont Industries Stock Performance

NYSE VMI opened at $297.26 on Thursday. Valmont Industries has a 1 year low of $213.27 and a 1 year high of $353.36. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.21 and a quick ratio of 1.31. The stock has a market capitalization of $6.35 billion, a PE ratio of 25.56, a P/E/G ratio of 1.62 and a beta of 1.07. The company’s 50 day simple moving average is $320.83 and its two-hundred day simple moving average is $311.54.

Valmont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. This is a boost from Valmont Industries’s previous quarterly dividend of $0.55. Valmont Industries’s dividend payout ratio (DPR) is 18.92%.

Insider Activity

In other news, insider Aaron M. Schapper sold 4,033 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $309.24, for a total transaction of $1,247,164.92. Following the sale, the insider now owns 13,629 shares in the company, valued at approximately $4,214,631.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Valmont Industries

A number of large investors have recently added to or reduced their stakes in VMI. Raymond James Financial Services Advisors Inc. raised its position in Valmont Industries by 4.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,490 shares of the industrial products company’s stock worth $1,071,000 after purchasing an additional 200 shares during the period. Group One Trading L.P. purchased a new position in Valmont Industries in the 1st quarter worth $358,000. Citigroup Inc. raised its position in Valmont Industries by 3.8% in the 1st quarter. Citigroup Inc. now owns 7,879 shares of the industrial products company’s stock worth $1,879,000 after purchasing an additional 291 shares during the period. Bank of Montreal Can grew its holdings in Valmont Industries by 15.1% in the 1st quarter. Bank of Montreal Can now owns 23,175 shares of the industrial products company’s stock worth $5,635,000 after acquiring an additional 3,032 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Valmont Industries by 33.4% in the 1st quarter. MetLife Investment Management LLC now owns 13,719 shares of the industrial products company’s stock worth $3,273,000 after acquiring an additional 3,433 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

About Valmont Industries

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Valmont Industries, Inc engages in the designing and manufacturing of engineered fabricated metal products and service. It operates through the following four segments: Engineered Support Structures, Utility Support Structures, Irrigation, and Coatings. The Engineered Support Structures segment produces engineered access systems, highway safety products, and integrated structure solutions for smart cities.