Ieq Capital LLC bought a new position in Valmont Industries, Inc. (NYSE:VMI – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 16,486 shares of the industrial products company’s stock, valued at approximately $9,522,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Callan Family Office LLC purchased a new stake in shares of Valmont Industries in the second quarter valued at approximately $2,483,000. Blue Capital Inc. bought a new stake in Valmont Industries during the 2nd quarter valued at $571,000. Allworth Financial LP purchased a new stake in Valmont Industries in the second quarter worth about $192,000. Trillium Asset Management LLC purchased a new position in Valmont Industries during the 2nd quarter valued at about $28,017,000. Finally, Value Holdings Management CO. LLC bought a new stake in shares of Valmont Industries in the 2nd quarter valued at about $19,061,000. Institutional investors own 87.84% of the company’s stock.
Insider Buying and Selling at Valmont Industries
In other news, Director Theodor Werner Freye sold 800 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the sale, the director owned 2,805 shares of the company’s stock, valued at $1,388,475. This trade represents a 22.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John L. Schwietz bought 208 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were acquired at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the completion of the purchase, the chief financial officer owned 2,992 shares in the company, valued at $1,454,530.88. The trade was a 7.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.42% of the company’s stock.
Valmont Industries Stock Performance
Valmont Industries (NYSE:VMI – Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.34. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.88 EPS. On average, equities analysts forecast that Valmont Industries, Inc. will post 23.08 EPS for the current fiscal year.
Valmont Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.77 per share. 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 currently 11.99%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on VMI. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the company an “outperform” rating in a research note on Thursday, May 28th. Zacks Research downgraded shares of Valmont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. upped their target price on Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Stifel Nicolaus increased their target price on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Weiss Ratings cut Valmont Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Valmont Industries currently has an average rating of “Moderate Buy” and an average target price of $587.00.
Read Our Latest Stock Analysis on VMI
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.
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