First Nebraska Trust Co acquired a new position in Valmont Industries, Inc. (NYSE:VMI – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,100 shares of the industrial products company’s stock, valued at approximately $635,000.
A number of other hedge funds have also bought and sold shares of VMI. Elyxium Wealth LLC bought a new position in Valmont Industries during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Valmont Industries in the fourth quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Valmont Industries in the second quarter worth approximately $28,000. Leonteq Securities AG purchased a new position in shares of Valmont Industries during the fourth quarter valued at approximately $30,000. Finally, State of Wyoming purchased a new position in shares of Valmont Industries during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.
Insider Buying and Selling at Valmont Industries
In related news, Director Theodor Werner Freye sold 800 shares of Valmont Industries stock in a transaction on Monday, July 27th. The stock was sold at an average price of $495.00, for a total transaction of $396,000.00. Following the transaction, the director directly owned 2,805 shares in the company, valued at approximately $1,388,475. The trade was a 22.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John L. Schwietz purchased 208 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were bought 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. This trade represents a 7.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.42% of the company’s stock.
Valmont Industries Stock Performance
Valmont Industries (NYSE:VMI – Get Free Report) last announced its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.34. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $4.88 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts predict that Valmont Industries, Inc. will post 23.08 EPS for the current year.
Valmont Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be paid a $0.77 dividend. 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 dividend payout ratio is 11.99%.
Analyst Ratings Changes
Several brokerages recently issued reports on VMI. Zacks Research cut shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings lowered shares of Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. Stifel Nicolaus increased 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. JPMorgan Chase & Co. raised their price target on Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen lowered Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $587.00.
Check Out Our Latest 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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