Hsbc Holdings PLC lifted its stake in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 24.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,469 shares of the industrial products company’s stock after purchasing an additional 877 shares during the period. Hsbc Holdings PLC’s holdings in Valmont Industries were worth $1,805,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of VMI. Community Bank N.A. purchased a new stake in Valmont Industries during the 3rd quarter worth about $25,000. Elyxium Wealth LLC acquired a new stake in Valmont Industries in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Valmont Industries in the 4th quarter valued at about $27,000. Leonteq Securities AG acquired a new position in shares of Valmont Industries during the fourth quarter worth about $30,000. Finally, State of Wyoming acquired a new position in shares of Valmont Industries during the fourth quarter worth about $34,000. 87.84% of the stock is owned by institutional investors and hedge funds.
Valmont Industries Price Performance
Shares of NYSE VMI opened at $571.44 on Tuesday. The stock’s 50-day simple moving average is $521.81 and its 200-day simple moving average is $462.26. The firm has a market capitalization of $11.09 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 1.31 and a beta of 1.34. Valmont Industries, Inc. has a fifty-two week low of $321.21 and a fifty-two week high of $585.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 2.38.
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 issued a $0.77 dividend. The ex-dividend date is Friday, June 26th. This represents a $3.08 annualized dividend and a dividend yield of 0.5%. Valmont Industries’s dividend payout ratio is presently 17.10%.
Insider Activity
In related news, Director Mogens C. Bay sold 17,500 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $492.34, for a total value of $8,615,950.00. Following the transaction, the director directly owned 112,309 shares of the company’s stock, valued at $55,294,213.06. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.42% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Zacks Research raised shares of Valmont Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Weiss Ratings raised shares of Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the company an “outperform” rating in a report on Thursday, May 28th. Wall Street Zen cut shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Stifel Nicolaus boosted their target price on shares of Valmont Industries from $541.00 to $645.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Valmont Industries has a consensus rating of “Buy” and an average price target of $573.75.
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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