Congruence Capital LLC bought a new stake in shares of Valmont Industries, Inc. (NYSE:VMI – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 37,311 shares of the industrial products company’s stock, valued at approximately $15,011,000. Valmont Industries accounts for 5.5% of Congruence Capital LLC’s investment portfolio, making the stock its 7th largest position.
Other large investors also recently made changes to their positions in the company. Community Bank N.A. acquired a new position in shares of Valmont Industries during the third quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new position in Valmont Industries during the 4th quarter worth $27,000. Leonteq Securities AG bought a new position in shares of Valmont Industries in the fourth quarter worth $30,000. State of Wyoming acquired a new position in shares of Valmont Industries during the fourth quarter valued at $34,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Valmont Industries during the third quarter valued at $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.
Wall Street Analyst Weigh In
VMI has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of Valmont Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Zacks Research raised shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Wall Street Zen upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 31st. Stifel Nicolaus upped their target price on Valmont Industries from $497.00 to $541.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. increased their price target on Valmont Industries from $480.00 to $510.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $525.25.
Valmont Industries Stock Up 3.4%
NYSE VMI opened at $546.52 on Friday. Valmont Industries, Inc. has a 12 month low of $316.56 and a 12 month high of $548.90. The company has a market capitalization of $10.61 billion, a P/E ratio of 30.35, a PEG ratio of 1.26 and a beta of 1.34. The company’s 50 day simple moving average is $488.37 and its 200 day simple moving average is $449.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.38 and a quick ratio of 1.59.
Valmont Industries (NYSE:VMI – Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $0.79. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $994.85 million. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.32 earnings per share. Equities research analysts expect that Valmont Industries, Inc. will post 22.83 earnings per share for the current fiscal year.
Valmont Industries Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. Valmont Industries’s payout ratio is 17.10%.
Insider Activity
In other news, Director Mogens C. Bay sold 17,500 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the sale, the director directly owned 112,309 shares of the company’s stock, valued at $55,294,213.06. This represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.42% of the stock is owned by company insiders.
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.
Featured Stories
- Five stocks we like better than Valmont Industries
- Time to Sell? 3 Winners With Fading Technical Momentum
- Why These 2 Hotel Stocks Are Beating Travel Peers
- This Energy Stock Has Quietly Soared 130% in a Year
- 3 ‘Boring’ Dividend Stocks With Tasty Technical Setups
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.
