Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Valmont Industries, Inc. (NYSE:VMI – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,700 shares of the industrial products company’s stock, valued at approximately $3,476,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new position in Valmont Industries during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Valmont Industries in the 4th quarter valued at about $27,000. Leonteq Securities AG bought a new stake in shares of Valmont Industries in the 4th quarter valued at about $30,000. State of Wyoming acquired a new stake in shares of Valmont Industries in the 4th quarter valued at approximately $34,000. Finally, V Square Quantitative Management LLC bought a new position in Valmont Industries during the 1st quarter worth approximately $37,000. Institutional investors own 87.84% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a report on Monday, July 20th. Oppenheimer set a $600.00 price target on shares of Valmont Industries and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Wall Street Zen raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. raised their price target on Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $587.00.
Valmont Industries Trading Up 4.6%
Shares of NYSE:VMI opened at $477.14 on Friday. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.05 and a beta of 1.33. Valmont Industries, Inc. has a 12 month low of $353.41 and a 12 month high of $585.71. The company’s fifty day simple moving average is $536.27 and its 200 day simple moving average is $480.25. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42.
Valmont Industries (NYSE:VMI – Get Free Report) last announced its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.34. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.88 EPS. As a group, research analysts forecast that Valmont Industries, Inc. will post 22.96 EPS for the current fiscal year.
Valmont Industries Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, September 25th. Valmont Industries’s dividend payout ratio (DPR) is currently 11.99%.
Insider Buying and Selling
In other Valmont Industries news, CFO John L. Schwietz purchased 208 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was bought at an average cost of $486.14 per share, with a total value of $101,117.12. Following the purchase, the chief financial officer directly owned 2,992 shares of the company’s stock, valued at $1,454,530.88. The trade was a 7.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Theodor Werner Freye sold 800 shares of Valmont Industries stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $495.00, for a total transaction of $396,000.00. Following the completion of the sale, the director owned 2,805 shares in the company, valued at $1,388,475. This trade represents a 22.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is currently owned by company insiders.
About Valmont Industries
Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.
The company operates through several core business segments.
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