Pictet Asset Management Holding SA raised its stake in shares of Valmont Industries, Inc. (NYSE:VMI – Free Report) by 43.6% in the 3rd quarter, Holdings Channel reports. The firm owned 343,510 shares of the industrial products company’s stock after acquiring an additional 104,259 shares during the period. Pictet Asset Management Holding SA’s holdings in Valmont Industries were worth $159,044,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Parkside Financial Bank & Trust grew its position in shares of Valmont Industries by 6.4% during the second quarter. Parkside Financial Bank & Trust now owns 349 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 21 shares in the last quarter. Gibbs Wealth Management increased its holdings in shares of Valmont Industries by 1.4% in the third quarter. Gibbs Wealth Management now owns 1,720 shares of the industrial products company’s stock worth $796,000 after purchasing an additional 24 shares during the last quarter. Hanseatic Management Services Inc. lifted its position in shares of Valmont Industries by 3.6% in the third quarter. Hanseatic Management Services Inc. now owns 881 shares of the industrial products company’s stock worth $408,000 after buying an additional 31 shares in the last quarter. Balefire LLC lifted its position in shares of Valmont Industries by 5.1% in the first quarter. Balefire LLC now owns 701 shares of the industrial products company’s stock worth $280,000 after buying an additional 34 shares in the last quarter. Finally, Elevation Wealth Partners LLC lifted its position in shares of Valmont Industries by 52.2% in the third quarter. Elevation Wealth Partners LLC now owns 102 shares of the industrial products company’s stock worth $47,000 after buying an additional 35 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.
Valmont Industries Stock Down 0.1%
Shares of NYSE:VMI opened at $403.71 on Monday. Valmont Industries, Inc. has a 52-week low of $378.02 and a 52-week high of $585.71. The stock has a market cap of $7.73 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 0.91 and a beta of 1.39. The business’s 50 day moving average is $458.94 and its 200 day moving average is $476.77. The company has a quick ratio of 1.56, a current ratio of 2.41 and a debt-to-equity ratio of 0.43.
Valmont Industries (NYSE:VMI – Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $6.24 EPS for the quarter, topping the consensus estimate of $5.70 by $0.54. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Valmont Industries had a return on equity of 26.25% and a net margin of 12.05%. Valmont Industries’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $4.98 EPS. Sell-side analysts predict that Valmont Industries, Inc. will post 23.33 EPS for the current year.
Valmont Industries Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 24th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, December 24th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.8%. Valmont Industries’s dividend payout ratio is presently 11.43%.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Zacks Research downgraded Valmont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Stifel Nicolaus boosted 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. Wall Street Zen upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings cut shares of Valmont Industries from a “buy (b)” rating to a “hold (c)” rating in a research report on Wednesday, October 28th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Valmont Industries currently has a consensus rating of “Moderate Buy” and an average price target of $587.00.
Get Our Latest Research Report on Valmont Industries
About Valmont Industries
Valmont Industries designs and manufactures products used in infrastructure and agriculture. Founded in 1946, the company has grown from a maker of steel irrigation equipment into a global provider of engineered products and services.
Its infrastructure business supplies utility structures, poles and towers, lighting and traffic products, telecommunications structures, and protective coatings. These products support electric power, transportation, communications, and other infrastructure markets.
Valmont’s agriculture business focuses on mechanized irrigation systems, including center-pivot and linear-move equipment, along with related technology and services.
Read More
- Five stocks we like better than Valmont Industries
- Lemonade’s Revenue Soars 73%—So Why Did Its Stock Turn Sour After Earnings?
- Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
- After the Midterms, Which of These 3 Defense ETFs Looks Strongest?
- The Ugly Truth Behind SoundHound’s Q3 Results
Want to see what other hedge funds are holding VMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valmont Industries, Inc. (NYSE:VMI – Free Report).
Receive News & Ratings for Valmont Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valmont Industries and related companies with MarketBeat.com's FREE daily email newsletter.
