Point72 Hong Kong Ltd Raises Stake in Valmont Industries, Inc. (NYSE:VMI)
Point72 Hong Kong Ltd increased its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 37.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,170 shares of the industrial products company’s stock after buying an additional 594 shares during the period. Point72 Hong Kong Ltd’s holdings in Valmont Industries were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in VMI. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Valmont Industries during the 4th quarter worth $32,000. Banque Cantonale Vaudoise bought a new stake in shares of Valmont Industries during the fourth quarter valued at approximately $33,000. Penserra Capital Management LLC bought a new stake in shares of Valmont Industries during the fourth quarter valued at approximately $39,000. Machina Capital S.A.S. bought a new stake in shares of Valmont Industries during the fourth quarter valued at approximately $219,000. Finally, ProShare Advisors LLC raised its stake in shares of Valmont Industries by 11.8% during the fourth quarter. ProShare Advisors LLC now owns 1,929 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 203 shares in the last quarter. 86.69% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. Stifel Nicolaus downgraded Valmont Industries from a “buy” rating to a “hold” rating and reduced their price target for the stock from $168.00 to $137.00 in a research report on Sunday, February 23rd. DA Davidson lowered shares of Valmont Industries from a “buy” rating to a “neutral” rating and cut their price target for the stock from $150.00 to $145.00 in a research note on Friday, February 21st. Finally, ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, Valmont Industries presently has a consensus rating of “Hold” and a consensus price target of $142.00.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $1.66 EPS for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($0.20). Valmont Industries had a net margin of 5.56% and a return on equity of 14.71%. The firm had revenue of $683.63 million for the quarter, compared to analyst estimates of $705.80 million. As a group, equities research analysts anticipate that Valmont Industries, Inc. will post 7.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 27th will be given a dividend of $0.45 per share. This is a positive change from Valmont Industries’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $1.80 dividend on an annualized basis and a yield of 1.97%. Valmont Industries’s dividend payout ratio is presently 21.25%.
About Valmont Industries
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.
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