TBH Global Asset Management LLC Sells 43 Shares of Valmont Industries, Inc. (NYSE:VMI)

TBH Global Asset Management LLC trimmed its stake in Valmont Industries, Inc. (NYSE:VMI) by 1.1% during the 4th quarter, Holdings Channel reports. The firm owned 3,887 shares of the industrial products company’s stock after selling 43 shares during the quarter. TBH Global Asset Management LLC’s holdings in Valmont Industries were worth $1,192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. raised its position in Valmont Industries by 57.6% during the third quarter. Franklin Resources Inc. now owns 407,308 shares of the industrial products company’s stock valued at $123,512,000 after purchasing an additional 148,811 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Valmont Industries by 16.3% during the 3rd quarter. Wellington Management Group LLP now owns 247,714 shares of the industrial products company’s stock valued at $71,825,000 after purchasing an additional 34,772 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Valmont Industries during the 4th quarter valued at about $8,275,000. Segall Bryant & Hamill LLC lifted its position in Valmont Industries by 9.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 288,633 shares of the industrial products company’s stock worth $83,689,000 after buying an additional 25,237 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Valmont Industries by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 292,901 shares of the industrial products company’s stock worth $84,927,000 after buying an additional 24,224 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus lifted their price target on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday. DA Davidson lowered shares of Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a report on Wednesday. Finally, StockNews.com downgraded shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Valmont Industries Stock Performance

Shares of VMI stock opened at $366.88 on Thursday. The company has a market capitalization of $7.35 billion, a P/E ratio of 21.36 and a beta of 1.05. Valmont Industries, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $379.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.55 and a current ratio of 2.35. The stock has a 50 day moving average price of $323.00 and a two-hundred day moving average price of $311.36.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.21. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Valmont Industries had a net margin of 8.55% and a return on equity of 23.42%. During the same period in the prior year, the business posted $3.18 EPS. Analysts expect that Valmont Industries, Inc. will post 17.96 earnings per share for the current year.

Valmont Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Valmont Industries’s previous quarterly dividend of $0.60. This represents a $2.72 annualized dividend and a dividend yield of 0.74%. Valmont Industries’s dividend payout ratio (DPR) is presently 13.97%.

Insider Activity at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 20,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total transaction of $6,978,400.00. Following the transaction, the director now directly owns 131,730 shares of the company’s stock, valued at approximately $45,963,231.60. The trade was a 13.18 % 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. 2.00% of the stock is owned by company insiders.

About Valmont Industries

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.