8,651 Valmont Industries, Inc. $VMI Shares Bought by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd increased its Valmont Industries stake by 4.6% in the third quarter, buying 8,651 shares to hold 198,650 shares worth approximately $92.0 million. Institutional investors collectively own 87.84% of the company.
• Valmont reported quarterly earnings of $6.14 per share, beating estimates of $5.80, while revenue rose 6.5% year over year to $1.12 billion. Analysts expect full-year EPS of about $23.03.
• The stock recently traded at $452.20, below its 50-day and 200-day moving averages. Valmont declared a quarterly dividend of $0.77 per share, and analysts maintain a “Moderate Buy” consensus with an average price target of $587.

Ninety One UK Ltd boosted its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 198,650 shares of the industrial products company's stock after purchasing an additional 8,651 shares during the quarter. Ninety One UK Ltd owned about 1.03% of Valmont Industries worth $91,971,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Valmont Industries in the 2nd quarter worth approximately $1,141,369,000. Bank of America Corp DE bought a new stake in shares of Valmont Industries during the second quarter valued at approximately $175,408,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Valmont Industries by 3.7% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 252,605 shares of the industrial products company's stock valued at $100,933,000 after buying an additional 9,130 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Valmont Industries during the second quarter valued at approximately $83,723,000. Finally, Jupiter Topco LLC purchased a new position in shares of Valmont Industries in the second quarter worth $75,308,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Valmont Industries news, CFO John L. Schwietz purchased 208 shares of Valmont Industries stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 2,992 shares of the company's stock, valued at approximately $1,454,530.88. This trade represents a 7.47% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Theodor Freye sold 800 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $495.00, for a total transaction of $396,000.00. Following the transaction, 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 SEC filing for this sale provides additional information. Company insiders own 1.42% of the company's stock.

Valmont Industries Price Performance

Valmont Industries stock traded down $13.13 during midday trading on Thursday, reaching $452.20. 96,029 shares of the stock traded hands, compared to its average volume of 195,261. The stock's fifty day moving average is $477.75 and its 200-day moving average is $494.34. Valmont Industries, Inc. has a 12 month low of $378.02 and a 12 month high of $585.71. The stock has a market cap of $8.73 billion, a P/E ratio of 17.63, a PEG ratio of 1.08 and a beta of 1.34. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42.

Valmont Industries (NYSE:VMI - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share 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 business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter last year, the business posted $4.88 EPS. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Valmont Industries, Inc. will post 23.03 EPS for the current year.

Valmont Industries Announces Dividend

The company also recently announced 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. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, September 25th. Valmont Industries's dividend payout ratio is currently 11.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Zacks Research cut shares of Valmont Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. JPMorgan Chase & Co. lifted their price target 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, Wall Street Zen cut shares of Valmont Industries from a "buy" rating to a "hold" rating in a research note on Saturday, October 10th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Valmont Industries presently has an average rating of "Moderate Buy" and an average price target of $587.00.

Valmont Industries Profile

Valmont Industries, Inc is a global manufacturer of engineered products and services that support infrastructure, agriculture and industrial applications. Founded in 1946 and headquartered in Omaha, Nebraska, the company serves customers in North America and international markets.

Its infrastructure businesses produce utility poles and structures, towers, steel and aluminum structures, lighting and traffic-support systems, and other products used in electrical transmission and distribution, telecommunications, transportation and commercial development.

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