Corebridge Financial Inc. Has $6.95 Million Holdings in Valmont Industries, Inc. (NYSE:VMI)

Corebridge Financial Inc. trimmed its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,669 shares of the industrial products company’s stock after selling 1,177 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Valmont Industries worth $6,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in Valmont Industries in the third quarter worth approximately $558,000. Bank of Montreal Can lifted its stake in shares of Valmont Industries by 371.6% in the 3rd quarter. Bank of Montreal Can now owns 21,927 shares of the industrial products company’s stock valued at $6,338,000 after purchasing an additional 17,278 shares during the last quarter. FMR LLC boosted its holdings in Valmont Industries by 4.0% in the third quarter. FMR LLC now owns 349,426 shares of the industrial products company’s stock worth $101,316,000 after purchasing an additional 13,509 shares in the last quarter. Townsquare Capital LLC increased its position in Valmont Industries by 8.7% during the third quarter. Townsquare Capital LLC now owns 10,764 shares of the industrial products company’s stock worth $3,121,000 after buying an additional 857 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in Valmont Industries by 171.5% during the third quarter. Bridgewater Associates LP now owns 5,219 shares of the industrial products company’s stock valued at $1,513,000 after buying an additional 3,297 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Valmont Industries Stock Performance

Shares of NYSE VMI opened at $289.99 on Friday. Valmont Industries, Inc. has a 12 month low of $202.01 and a 12 month high of $379.22. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.47. The company has a market cap of $5.82 billion, a P/E ratio of 16.88 and a beta of 0.98. The business’s 50 day moving average is $329.60 and its two-hundred day moving average is $319.75.

Valmont Industries (NYSE:VMI) last released its earnings results on Tuesday, February 18th. The industrial products company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.63 by $0.21. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Valmont Industries had a net margin of 8.55% and a return on equity of 23.15%. During the same period in the prior year, the company earned $3.18 EPS. On average, equities analysts expect that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on VMI shares. William Blair lowered Valmont Industries from an “outperform” rating to a “market perform” rating in a report on Friday, March 21st. DA Davidson lowered shares of Valmont Industries from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a research report on Wednesday, February 19th. Stifel Nicolaus upped their price objective on shares of Valmont Industries from $387.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Valmont Industries 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.