Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Valmont Industries, Inc. (NYSE:VMI – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,500 shares of the industrial products company’s stock, valued at approximately $4,337,000.
Several other hedge funds and other institutional investors have also bought and sold shares of VMI. Vanguard Personalized Indexing Management LLC grew its position in shares of Valmont Industries by 0.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 2,303 shares of the industrial products company’s stock worth $927,000 after purchasing an additional 21 shares in the last quarter. Allen Capital Group LLC raised its position in shares of Valmont Industries by 2.2% in the fourth quarter. Allen Capital Group LLC now owns 1,130 shares of the industrial products company’s stock valued at $455,000 after buying an additional 24 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Valmont Industries by 0.4% in 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 buying an additional 29 shares during the period. Rothschild Investment LLC boosted its stake in shares of Valmont Industries by 7.1% in the fourth quarter. Rothschild Investment LLC now owns 453 shares of the industrial products company’s stock valued at $182,000 after buying an additional 30 shares during the period. Finally, Balefire LLC grew its position 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 buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.
Analyst Upgrades and Downgrades
VMI has been the subject of a number of recent analyst reports. Zacks Research downgraded Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Stifel Nicolaus increased their price objective 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 price objective 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 shares of 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 shares of Valmont Industries and gave the stock an “outperform” rating in a report on Thursday, May 28th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $587.00.
Insider Activity at Valmont Industries
In other Valmont Industries news, CFO John L. Schwietz bought 208 shares of Valmont Industries stock in a transaction on Thursday, July 23rd. The shares were purchased at an average cost 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 of the company’s stock, valued at $1,454,530.88. The trade was a 7.47% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodor Werner Freye sold 800 shares of the company’s 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 transaction, the director owned 2,805 shares of the company’s stock, valued at approximately $1,388,475. This trade represents a 22.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.42% of the company’s stock.
Valmont Industries Stock Down 0.8%
Shares of VMI opened at $476.92 on Friday. 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 52 week low of $360.41 and a 52 week high of $585.71. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.10 and a beta of 1.35. The stock has a fifty day moving average of $515.90 and a 200-day moving average of $486.31.
Valmont Industries (NYSE:VMI – Get Free Report) last issued its quarterly earnings data 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. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted $4.88 EPS. Valmont Industries’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Valmont Industries, Inc. will post 23.08 earnings per share for the current fiscal year.
Valmont Industries Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be issued 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 payout ratio is 11.99%.
Valmont Industries Company 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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