Hsbc Holdings PLC Acquires 5,028 Shares of Valmont Industries, Inc. $VMI

Hsbc Holdings PLC grew its holdings in Valmont Industries, Inc. (NYSE:VMIFree Report) by 112.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,497 shares of the industrial products company’s stock after purchasing an additional 5,028 shares during the period. Hsbc Holdings PLC’s holdings in Valmont Industries were worth $3,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Robert B. Daugherty Foundation purchased a new stake in shares of Valmont Industries during the fourth quarter valued at $100,580,000. Norges Bank purchased a new position in Valmont Industries in the 4th quarter worth about $99,799,000. Ninety One UK Ltd purchased a new position in Valmont Industries in the 4th quarter worth about $66,103,000. AQR Capital Management LLC lifted its holdings in Valmont Industries by 118.8% during the 3rd quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company’s stock valued at $108,884,000 after buying an additional 153,418 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Valmont Industries by 179.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 117,342 shares of the industrial products company’s stock valued at $38,320,000 after buying an additional 75,377 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VMI has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Wall Street Zen raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Stifel Nicolaus boosted their price target on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a report on Monday, July 20th. Weiss Ratings raised Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Finally, Oppenheimer set a $600.00 price objective on Valmont Industries and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Valmont Industries currently has an average rating of “Moderate Buy” and an average target price of $587.00.

Read Our Latest Report on VMI

Valmont Industries Stock Performance

VMI stock opened at $486.07 on Friday. Valmont Industries, Inc. has a 1-year low of $353.41 and a 1-year high of $585.71. The business has a 50-day moving average price of $538.15 and a 200 day moving average price of $478.27. The company has a market capitalization of $9.44 billion, a P/E ratio of 18.93, a PEG ratio of 1.12 and a beta of 1.33. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.59.

Valmont Industries (NYSE:VMIGet Free Report) last issued its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.34. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.88 EPS. As a group, equities research analysts forecast that Valmont Industries, Inc. will post 22.96 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, June 26th. Valmont Industries’s dividend payout ratio is presently 11.99%.

About Valmont Industries

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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