65,300 Shares in Valmont Industries, Inc. $VMI Purchased by Bornite Capital Management LP

Key Points

• Bornite Capital Management acquired 65,300 Valmont Industries shares worth approximately $37.7 million, making VMI 4.7% of its portfolio and its 12th-largest holding. Institutional investors collectively own 87.84% of the company.
• Valmont reported quarterly EPS of $6.14 and revenue of $1.12 billion, exceeding analyst estimates, while revenue rose 6.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $587.
• VMI shares opened at $466.97, down 0.6%, and the company declared a quarterly dividend of $0.77 per share, equivalent to a 0.7% annual yield.

Bornite Capital Management LP acquired a new stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 65,300 shares of the industrial products company's stock, valued at approximately $37,717,000. Valmont Industries accounts for about 4.7% of Bornite Capital Management LP's holdings, making the stock its 12th largest position. Bornite Capital Management LP owned approximately 0.34% of Valmont Industries at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Valmont Industries during the second quarter valued at about $268,000. Clifford Swan Investment Counsel LLC purchased a new stake in shares of Valmont Industries in the 2nd quarter valued at approximately $231,000. F&V Capital Management LLC lifted its holdings in shares of Valmont Industries by 0.8% in the 2nd quarter. F&V Capital Management LLC now owns 35,228 shares of the industrial products company's stock worth $20,348,000 after acquiring an additional 291 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of Valmont Industries during the 2nd quarter worth approximately $481,000. Finally, Van ECK Associates Corp boosted its position in shares of Valmont Industries by 10.2% during the 2nd quarter. Van ECK Associates Corp now owns 18,334 shares of the industrial products company's stock worth $10,590,000 after purchasing an additional 1,703 shares during the period. 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 the business's 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 completion of the transaction, the director directly owned 2,805 shares of the company's stock, valued at $1,388,475. The trade was a 22.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 price of $486.14 per share, for a total transaction of $101,117.12. Following the acquisition, the chief financial officer owned 2,992 shares in the company, valued at $1,454,530.88. This trade represents a 7.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on VMI shares. JPMorgan Chase & Co. boosted their target price on Valmont Industries from $600.00 to $620.00 and gave the company an "overweight" rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Zacks Research cut Valmont Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Wall Street Zen downgraded Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Stifel Nicolaus increased their target price on Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $587.00.

Valmont Industries Trading Down 0.6%

Shares of VMI stock opened at $466.97 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.35. The stock has a market capitalization of $9.02 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 1.07 and a beta of 1.34. The company has a 50 day moving average price of $511.57 and a 200 day moving average price of $486.28. Valmont Industries, Inc. has a fifty-two week low of $360.41 and a fifty-two week high of $585.71.

Valmont Industries (NYSE:VMI - Get Free Report) last released its earnings results 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. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business earned $4.88 EPS. The firm's quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts predict that Valmont Industries, Inc. will post 23.08 EPS for the current fiscal year.

Valmont Industries Announces Dividend

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 given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.7%. Valmont Industries's dividend payout ratio is currently 11.99%.

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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