Neuberger Berman Group LLC increased its stake in Valmont Industries (NYSE: VMI – Get Rating) by 0.7% in the third quarter, according to its latest filing with the Securities and Exchange Commission. The fund owned his 1,111,599 shares of industrial products company stock after purchasing an additional 7,519 shares during the quarter. Neuberger Berman Group LLC owned approximately 5.21% of Valmont Industries, valued at $298.608 million as of its latest filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently increased or decreased their stakes in the company. Pinebridge Investments LP purchased new shares in Valmont Industries worth approximately $26,000 in the second quarter. Ellevest Inc. increased his Valmont Industries stake by 1,500.0% in the third quarter. Ellevest Inc. now owns 96 of his shares in the industrial products company worth $26,000 after acquiring another 90 shares during the previous quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased approximately $28,000 worth of new Valmont Industries shares in the third quarter. TCI Wealth Advisors Inc. increased his Valmont Industries stake by 1,628.6% in the third quarter. TCI Wealth Advisors Inc. now owns 121 shares of the industrial products company valued at $33,000 after acquiring an additional 114 shares during the previous quarter. Finally, Covestor Ltd increased his Valmont Industries stake by 347.4% in the first quarter. Covestor Ltd now owns 170 shares of the industrial products company valued at $41,000 after acquiring an additional 132 shares during the previous quarter. 87.84% of the shares are owned by institutional investors.
Valmont Industries shares drop 1.2%
NYSE VMI dropped $3.73 during Friday trading hours to reach $308.16. His 41,490 shares of the company’s stock were exchanged, but the average trading volume was 120,673 of his shares. The company has a 50-day moving average of $323.72 and a 200-day moving average of $310.86. Valmont Industries, Inc. has a year low of $213.27 and a year high of $353.36. The company has a debt to equity ratio of 0.53, a quick ratio of 1.31 and a current ratio of 2.21. The company has a market capitalization of $6.58 billion, a price/earnings ratio of 26.82, a price/earnings ratio of 1.73 and a beta of 1.07.
Valmont Industries increases dividend
The company also recently announced a quarterly dividend payable on Friday, April 14th. Shareholders of record on Friday, March 31 will receive a dividend of $0.60 per share. The ex-dividend date is Thursday, March 30. This represents his $2.40 dividend and his 0.78% yield on an annual basis. This is an increase from Valmont Industries’ previous quarterly dividend of $0.55. Valmont Industries’ dividend payout ratio is 18.92%.
Analyst upgrades and downgrades
Many analysts have recently commented on the company. DA Davidson reaffirmed its “neutral” rating on Valmont Industries’ stock in a research note on Friday, February 24. Stifel Nicolaus raised Valmont Industries’ price target from his $385.00 to his $389.00, giving the company a “buy” rating in a research note on Friday, Jan. 20. Finally, StockNews.com raised Valmont Industries’ rating from “pending” to “buying” in his Wednesday, Nov. 23 research note. One Equity Research her analyst gave the stock a hold rating and four assigned a buy rating to it. According to MarketBeat data, Valmont Industries has an average rating of “moderate buy” and an average target price of $324.00.
Valmont Industries company profile
Valmont Industries, Inc is engaged in the design, manufacture and service of fabricated metal products. It operates through his four segments: Engineered Support Structures, Utility Support Structures, Irrigation, and Coatings. The Engineered Support Structures segment manufactures engineered access systems, highway safety products, and integrated structure solutions for smart cities.
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