New York Life Investment Management LLC Makes New Investment in Valmont Industries, Inc. $VMI

New York Life Investment Management LLC purchased a new position in Valmont Industries, Inc. (NYSE:VMI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,841 shares of the industrial products company’s stock, valued at approximately $741,000.

Other hedge funds have also recently made changes to their positions in the company. Azzad Asset Management Inc. ADV bought a new stake in shares of Valmont Industries in the 3rd quarter worth approximately $739,000. Jackson Creek Investment Advisors LLC bought a new stake in shares of Valmont Industries in the 3rd quarter worth approximately $1,658,000. Congress Asset Management Co. lifted its holdings in shares of Valmont Industries by 14.1% in the 4th quarter. Congress Asset Management Co. now owns 85,346 shares of the industrial products company’s stock worth $34,336,000 after acquiring an additional 10,518 shares during the last quarter. Cornerstone Planning Group LLC bought a new stake in shares of Valmont Industries in the 3rd quarter worth approximately $5,663,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Valmont Industries by 1.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 283,740 shares of the industrial products company’s stock worth $110,015,000 after acquiring an additional 3,379 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Valmont Industries Trading Up 2.6%

NYSE:VMI opened at $503.81 on Thursday. The company has a fifty day moving average of $446.31 and a 200 day moving average of $434.90. Valmont Industries, Inc. has a 52 week low of $305.07 and a 52 week high of $528.49. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $9.78 billion, a P/E ratio of 27.97 and a beta of 1.36.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating analysts’ consensus estimates of $4.72 by $0.79. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $994.85 million. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.32 EPS. On average, research analysts predict that Valmont Industries, Inc. will post 22.78 earnings per share for the current year.

Valmont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 26th. Valmont Industries’s payout ratio is presently 17.10%.

Analysts Set New Price Targets

VMI has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Valmont Industries from $480.00 to $510.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Wall Street Zen upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research upgraded shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Stifel Nicolaus upped their price target on shares of Valmont Industries from $497.00 to $541.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, DA Davidson upped their price target on shares of Valmont Industries from $415.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Valmont Industries currently has a consensus rating of “Moderate Buy” and an average price target of $500.33.

Insider Transactions at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the transaction, the director directly owned 112,309 shares of the company’s stock, valued at approximately $55,294,213.06. The trade was a 13.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.42% of the company’s stock.

About Valmont Industries

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.