Shufro Rose & Co. LLC trimmed its holdings in Valmont Industries, Inc. (NYSE:VMI) by 31.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 28,183 shares of the industrial products company’s stock after selling 13,031 shares during the period. Shufro Rose & Co. LLC owned approximately 0.13% of Valmont Industries worth $3,127,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of VMI. King Luther Capital Management Corp raised its stake in Valmont Industries by 50.0% during the 3rd quarter. King Luther Capital Management Corp now owns 392,642 shares of the industrial products company’s stock valued at $54,381,000 after acquiring an additional 130,830 shares during the last quarter. Cambiar Investors LLC purchased a new position in Valmont Industries during the third quarter worth about $5,032,000. Janus Henderson Group PLC raised its holdings in Valmont Industries by 13.7% during the third quarter. Janus Henderson Group PLC now owns 293,202 shares of the industrial products company’s stock worth $40,608,000 after purchasing an additional 35,422 shares in the last quarter. First Trust Advisors LP raised its holdings in Valmont Industries by 25.2% during the third quarter. First Trust Advisors LP now owns 111,391 shares of the industrial products company’s stock worth $15,428,000 after purchasing an additional 22,413 shares in the last quarter. Finally, Vanguard Group Inc raised its stake in shares of Valmont Industries by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 1,931,965 shares of the industrial products company’s stock worth $267,577,000 after buying an additional 16,048 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.
A number of brokerages have recently issued reports on VMI. Zacks Investment Research raised Valmont Industries from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. ValuEngine upgraded Valmont Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Valmont Industries in a report on Wednesday, October 24th. Four analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average target price of $165.00.
NYSE VMI traded down $0.47 during mid-day trading on Monday, hitting $130.48. The stock had a trading volume of 1,393 shares, compared to its average volume of 110,215. Valmont Industries, Inc. has a 52-week low of $103.01 and a 52-week high of $159.95. The company has a market capitalization of $2.89 billion, a P/E ratio of 18.79, a PEG ratio of 1.59 and a beta of 1.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.40 and a quick ratio of 2.40.
Valmont Industries announced that its Board of Directors has approved a share buyback plan on Wednesday, October 31st that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 9.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Friday, December 28th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, December 27th. Valmont Industries’s dividend payout ratio is currently 21.52%.
Valmont Industries Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
Further Reading: Trading Ex-Dividend Strategy