K.J. Harrison & Partners Inc purchased a new stake in Valmont Industries, Inc. (NYSE:VMI – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,000 shares of the industrial products company’s stock, valued at approximately $578,000.
Other institutional investors also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its position in shares of Valmont Industries by 0.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 2,303 shares of the industrial products company’s stock worth $927,000 after buying an additional 21 shares during the period. Allen Capital Group LLC grew its position in Valmont Industries by 2.2% during the fourth quarter. Allen Capital Group LLC now owns 1,130 shares of the industrial products company’s stock valued at $455,000 after acquiring an additional 24 shares during the period. Public Employees Retirement System of Ohio grew its position in Valmont Industries by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 7,565 shares of the industrial products company’s stock valued at $2,933,000 after acquiring an additional 29 shares during the period. Rothschild Investment LLC increased its stake in Valmont Industries by 7.1% during the fourth quarter. Rothschild Investment LLC now owns 453 shares of the industrial products company’s stock worth $182,000 after acquiring an additional 30 shares during the last quarter. Finally, Balefire LLC increased its stake in Valmont Industries by 5.1% during the first quarter. Balefire LLC now owns 701 shares of the industrial products company’s stock worth $280,000 after acquiring an additional 34 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.
Valmont Industries Trading Up 2.4%
NYSE:VMI opened at $507.26 on Tuesday. The business’s 50-day moving average is $527.79 and its two-hundred day moving average is $484.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.55. Valmont Industries, Inc. has a 12 month low of $360.41 and a 12 month high of $585.71. The firm has a market capitalization of $9.80 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35.
Valmont Industries Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $3.08 annualized dividend and a yield of 0.6%. Valmont Industries’s payout ratio is 11.99%.
Insider Activity at Valmont Industries
In other news, CFO John L. Schwietz bought 208 shares of Valmont Industries stock in a transaction dated Thursday, July 23rd. The shares were acquired at an average cost of $486.14 per share, with a total value of $101,117.12. Following the completion of the transaction, the chief financial officer owned 2,992 shares in the company, valued at approximately $1,454,530.88. This trade represents a 7.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodor Werner Freye sold 800 shares of the firm’s stock in a transaction 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 sale, the director directly owned 2,805 shares of the company’s stock, valued at approximately $1,388,475. The trade was a 22.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.42% of the company’s stock.
Analyst Ratings Changes
VMI has been the topic of several research analyst reports. Oppenheimer set a $600.00 price objective on Valmont Industries and gave the company an “outperform” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. increased their target price on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Zacks Research lowered shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Stifel Nicolaus lifted their price target on shares of Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Weiss Ratings downgraded shares of Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $587.00.
Get Our Latest Stock Analysis on Valmont Industries
Valmont Industries Profile
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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