Corebridge Financial Inc. Sells 1,177 Shares of Valmont Industries, Inc. (NYSE:VMI)

Corebridge Financial Inc. decreased its holdings in Valmont Industries, Inc. (NYSE:VMI) by 4.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,669 shares of the industrial products company’s stock after selling 1,177 shares during the period. Corebridge Financial Inc.’s holdings in Valmont Industries were worth $6,952,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VMI. Sunbelt Securities Inc. acquired a new position in Valmont Industries in the third quarter worth about $35,000. Point72 Asset Management L.P. acquired a new position in shares of Valmont Industries in the 3rd quarter worth approximately $58,000. Avior Wealth Management LLC lifted its position in shares of Valmont Industries by 35.9% during the 4th quarter. Avior Wealth Management LLC now owns 212 shares of the industrial products company’s stock worth $65,000 after buying an additional 56 shares during the period. Parkside Financial Bank & Trust boosted its stake in Valmont Industries by 16.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 249 shares of the industrial products company’s stock valued at $76,000 after buying an additional 36 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Valmont Industries by 83.4% in the fourth quarter. Venturi Wealth Management LLC now owns 310 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 141 shares during the period. 87.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on VMI. William Blair downgraded shares of Valmont Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, March 21st. Stifel Nicolaus boosted their price target on shares of Valmont Industries from $387.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, DA Davidson downgraded 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, February 19th.

Valmont Industries Trading Down 3.1 %

Shares of NYSE VMI opened at $289.99 on Friday. Valmont Industries, Inc. has a 1-year low of $202.01 and a 1-year high of $379.22. The company has a 50-day moving average of $329.60 and a two-hundred day moving average of $319.75. The company has a market cap of $5.82 billion, a PE ratio of 16.88 and a beta of 0.98. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.21. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Valmont Industries had a return on equity of 23.15% and a net margin of 8.55%. During the same quarter in the prior year, the business earned $3.18 EPS. As a group, equities analysts expect that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.

Valmont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 28th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.94%. This is a positive change from Valmont Industries’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 15.83%.

Valmont Industries Company Profile

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.