VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Valmont Industries, Inc. (NYSE:VMI – Free Report) in the second quarter, Holdings Channel.com reports. The fund purchased 7,100 shares of the industrial products company’s stock, valued at approximately $4,101,000.
Several other large investors have also added to or reduced their stakes in VMI. Elyxium Wealth LLC purchased a new position in Valmont Industries during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Valmont Industries during the 4th quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Valmont Industries during the second quarter valued at about $28,000. Leonteq Securities AG purchased a new position in shares of Valmont Industries during the fourth quarter valued at about $30,000. Finally, State of Wyoming bought a new position in Valmont Industries in the fourth quarter worth about $34,000. Institutional investors own 87.84% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Wall Street Zen lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. increased their target price on Valmont Industries from $600.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Stifel Nicolaus raised their target price on Valmont Industries from $645.00 to $678.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Weiss Ratings raised Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Finally, Oppenheimer set a $600.00 price objective on Valmont Industries and gave the stock an “outperform” rating in a report on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Valmont Industries presently has an average rating of “Moderate Buy” and an average price target of $587.00.
Valmont Industries Stock Down 0.5%
VMI stock opened at $481.06 on Thursday. The stock has a market capitalization of $9.29 billion, a P/E ratio of 18.73, a P/E/G ratio of 1.10 and a beta of 1.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.55. Valmont Industries, Inc. has a 1-year low of $361.50 and a 1-year high of $585.71. The business has a fifty day moving average price of $500.40 and a 200-day moving average price of $486.87.
Valmont Industries (NYSE:VMI – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 EPS for the quarter, beating the consensus estimate of $5.80 by $0.34. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $4.88 earnings per share. Valmont Industries’s revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that Valmont Industries, Inc. will post 23.08 earnings per share for the current fiscal year.
Valmont Industries Dividend Announcement
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, September 25th. Valmont Industries’s dividend payout ratio (DPR) is presently 11.99%.
Insider Buying and Selling
In other news, Director Theodor Freye sold 800 shares of Valmont Industries stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the sale, the director directly owned 2,805 shares in the company, valued at $1,388,475. The trade was a 22.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John Schwietz acquired 208 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the chief financial officer directly owned 2,992 shares of the company’s stock, valued at $1,454,530.88. The trade was a 7.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.42% of the company’s stock.
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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