Bank of New York Mellon Corp Sells 4,272 Shares of Valmont Industries, Inc. (NYSE:VMI)

Bank of New York Mellon Corp lowered its stake in Valmont Industries, Inc. (NYSE:VMI) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 231,812 shares of the industrial products company’s stock after selling 4,272 shares during the quarter. Bank of New York Mellon Corp owned 1.16% of Valmont Industries worth $71,090,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VMI. Franklin Resources Inc. boosted its stake in shares of Valmont Industries by 57.6% in the 3rd quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock worth $123,512,000 after buying an additional 148,811 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Valmont Industries by 16.3% in the third quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company’s stock valued at $71,825,000 after acquiring an additional 34,772 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Valmont Industries in the fourth quarter worth about $8,275,000. Segall Bryant & Hamill LLC grew its stake in shares of Valmont Industries by 9.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 288,633 shares of the industrial products company’s stock valued at $83,689,000 after purchasing an additional 25,237 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Valmont Industries by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 292,901 shares of the industrial products company’s stock valued at $84,927,000 after purchasing an additional 24,224 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Down 3.9 %

VMI stock opened at $334.82 on Tuesday. The business’s 50-day moving average price is $327.55 and its 200-day moving average price is $315.35. The stock has a market cap of $6.71 billion, a P/E ratio of 19.49 and a beta of 1.05. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. Valmont Industries, Inc. has a twelve month low of $202.01 and a twelve month high of $379.22.

Valmont Industries (NYSE:VMI) last released its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.21. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. During the same quarter last year, the business earned $3.18 EPS. On average, equities research analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.72 annualized dividend and a yield of 0.81%. This is an increase from Valmont Industries’s previous quarterly dividend of $0.60. Valmont Industries’s dividend payout ratio is currently 15.83%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VMI shares. Stifel Nicolaus raised their price objective on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. StockNews.com cut shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th. 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 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.