Perigon Wealth Management LLC bought a new position in Valmont Industries, Inc. (NYSE:VMI – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund bought 3,812 shares of the industrial products company’s stock, valued at approximately $2,202,000.
Several other institutional investors also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Valmont Industries in the second quarter worth approximately $738,000. Beverly Hills Private Wealth LLC bought a new position in shares of Valmont Industries during the second quarter valued at approximately $203,000. Insight Wealth Partners LLC purchased a new position in shares of Valmont Industries in the 2nd quarter valued at $801,000. Simplicity Wealth LLC purchased a new position in shares of Valmont Industries during the 2nd quarter valued at about $446,000. Finally, Global Retirement Partners LLC purchased a new stake in Valmont Industries in the 2nd quarter worth approximately $1,127,000. 87.84% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Valmont Industries
In other news, Director Theodor Werner Freye sold 800 shares of the company’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 transaction, the director directly owned 2,805 shares of the company’s stock, valued at $1,388,475. This represents a 22.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John L. Schwietz purchased 208 shares of the business’s stock in a transaction dated Thursday, July 23rd. The stock was bought at an average price of $486.14 per share, with a total value of $101,117.12. Following the acquisition, the chief financial officer directly owned 2,992 shares in the company, valued at approximately $1,454,530.88. This represents a 7.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.42% of the stock is currently owned by insiders.
Valmont Industries Price Performance
Valmont Industries (NYSE:VMI – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 EPS for the quarter, topping the consensus estimate of $5.80 by $0.34. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.88 earnings per share. On average, equities research analysts anticipate that Valmont Industries, Inc. will post 23.08 earnings per share for the current year.
Valmont Industries Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. Valmont Industries’s payout ratio is 11.99%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on VMI shares. Stifel Nicolaus upped 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. Wall Street Zen downgraded Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings cut Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Finally, Zacks Research cut Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $587.00.
View Our Latest Stock Analysis on VMI
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.
See Also
- Five stocks we like better than Valmont Industries
- Commodities Are Booming, But These 3 ETFs Tell Different Stories
- 3 Active ETFs Making Big Moves in August
- This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
- Birkenstock Beats the Skeptics—But Not on EPS
Want to see what other hedge funds are holding VMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valmont Industries, Inc. (NYSE:VMI – Free Report).
Receive News & Ratings for Valmont Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valmont Industries and related companies with MarketBeat.com's FREE daily email newsletter.
