HighTower Advisors LLC decreased its holdings in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 156,488 shares of the industrial products company’s stock after selling 4,662 shares during the period. HighTower Advisors LLC’s holdings in Valmont Industries were worth $62,958,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Public Employees Retirement System of Ohio increased its holdings in Valmont Industries by 0.4% in the 3rd 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. Wedmont Private Capital increased its holdings in Valmont Industries by 5.6% in the 4th quarter. Wedmont Private Capital now owns 582 shares of the industrial products company’s stock valued at $245,000 after buying an additional 31 shares during the period. Aptus Capital Advisors LLC increased its holdings in Valmont Industries by 0.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 6,223 shares of the industrial products company’s stock valued at $2,413,000 after buying an additional 32 shares during the period. Huntington National Bank increased its holdings in Valmont Industries by 48.2% in the 3rd quarter. Huntington National Bank now owns 126 shares of the industrial products company’s stock valued at $49,000 after buying an additional 41 shares during the period. Finally, Arjuna Capital increased its holdings in Valmont Industries by 0.6% in the 4th quarter. Arjuna Capital now owns 7,116 shares of the industrial products company’s stock valued at $2,863,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.
Insiders Place Their Bets
In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the sale, the director directly owned 112,309 shares of the company’s stock, valued at $55,294,213.06. The trade was a 13.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.42% of the stock is owned by insiders.
Valmont Industries Trading Up 2.6%
Valmont Industries (NYSE:VMI – Get Free Report) last posted its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.72 by $0.79. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $994.85 million. During the same period in the previous year, the firm posted $4.32 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Valmont Industries, Inc. will post 22.78 earnings per share for the current fiscal year.
Valmont Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.77 per share. 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, June 26th. Valmont Industries’s payout ratio is presently 17.10%.
Analyst Upgrades and Downgrades
Several equities analysts have commented on VMI shares. DA Davidson raised their target price on shares of Valmont Industries from $415.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Wall Street Zen raised shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Stifel Nicolaus lifted their price target on shares of Valmont Industries from $497.00 to $541.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Valmont Industries from $480.00 to $510.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Valmont Industries in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $500.33.
View Our Latest Research Report 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.
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