Jupiter Topco LLC acquired a new stake in Valmont Industries, Inc. (NYSE:VMI – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 130,279 shares of the industrial products company’s stock, valued at approximately $75,308,000. Jupiter Topco LLC owned 0.67% of Valmont Industries as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of VMI. Avalon Trust Co acquired a new stake in shares of Valmont Industries during the 2nd quarter worth approximately $22,958,000. Congruence Capital LLC acquired a new position in shares of Valmont Industries in the 4th quarter valued at $15,011,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Valmont Industries by 3.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 252,605 shares of the industrial products company’s stock valued at $100,933,000 after purchasing an additional 9,130 shares during the period. De Lisle Partners LLP purchased a new stake in Valmont Industries during the second quarter worth $13,180,000. Finally, Leuthold Group LLC boosted its holdings in Valmont Industries by 983.7% during the fourth quarter. Leuthold Group LLC now owns 11,498 shares of the industrial products company’s stock worth $4,626,000 after buying an additional 10,437 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.
Valmont Industries Price Performance
Shares of NYSE VMI opened at $480.48 on Friday. The firm has a market cap of $9.28 billion, a PE ratio of 18.71, a PEG ratio of 1.09 and a beta of 1.35. The firm has a fifty day moving average of $517.79 and a 200 day moving average of $486.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.35. Valmont Industries, Inc. has a one year low of $360.41 and a one year high of $585.71.
Valmont Industries Announces Dividend
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. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, September 25th. Valmont Industries’s dividend payout ratio is 11.99%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on VMI shares. Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Stifel Nicolaus increased their target price on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. 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 note on Wednesday, July 22nd. Weiss Ratings cut Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Finally, Oppenheimer set a $600.00 price target on Valmont Industries and gave the company an “outperform” rating in a research note on Thursday, May 28th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $587.00.
View Our Latest Report on Valmont Industries
Insider Transactions at Valmont Industries
In other news, CFO John L. Schwietz acquired 208 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was bought at an average cost of $486.14 per share, for a total transaction of $101,117.12. Following the purchase, the chief financial officer 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. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Theodor Werner Freye sold 800 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the transaction, the director directly owned 2,805 shares of the company’s stock, valued at $1,388,475. The trade was a 22.19% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.42% of the company’s stock.
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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