Top 5 Agriculture Stocks to Buy According to Billionaire Mario Gabelli

3. Valmont Industries, Inc. (NYSE:VMI)

GAMCO Investors’ Stake Value: $31,403,000

Percentage of GAMCO Investors’ 13F Portfolio: 0.34%

Number of Hedge Fund Holders: 26

Valmont Industries, Inc. (NYSE:VMI) is a leading global manufacturer of center pivot and linear irrigation systems for the farming and agriculture industry. The company operates through two segments: Infrastructure and Agriculture.

On July 26, Valmont Industries, Inc. (NYSE:VMI) announced that its board of directors has declared a quarterly cash dividend of $0.55 per share. The dividend is payable on October 14 to shareholders of record on September 23. As of September 16, Valmont Industries, Inc. (NYSE:VMI) has gained 15% over the past twelve months and is offering a forward dividend yield of 0.81%.

Wall Street is bullish on Valmont Industries, Inc. (NYSE:VMI). On July 18, Northcoast analyst Ryan Connors initiated coverage of Valmont Industries, Inc. (NYSE:VMI) with a Buy rating and a $300 price target. Connors is bullish on the water infrastructure industry and has a “more promising” demand outlook for companies that serve in the agriculture, irrigation, and industrial sectors.

At the close of Q2 2022, 26 hedge funds were long Valmont Industries, Inc. (NYSE:VMI) and held stakes worth $482.8 million in the company. This is compared to 23 positions in the previous quarter with stakes worth $532.6 million.

As of June 30, GAMCO Investors’ stakes in Valmont Industries, Inc. (NYSE:VMI) are valued at $31.4 million. The investment covers 0.34% of Mario Gabelli’s 13F portfolio.