Allianz Asset Management GmbH Sells 28,087 Shares of Valmont Industries, Inc. $VMI

Key Points

• Allianz Asset Management cut its Valmont Industries stake by 9.9% in the fourth quarter, selling 28,087 shares and leaving it with 255,653 shares valued at about $102.9 million.
• Valmont reported strong quarterly results, posting EPS of $5.51 versus the $4.72 consensus and revenue of $1.03 billion, up 6.2% year over year.
• The company also announced a quarterly dividend of $0.77 per share, while analysts remain generally positive with a consensus rating of “Buy” and an average price target of $525.25.

Allianz Asset Management GmbH lowered its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 255,653 shares of the industrial products company's stock after selling 28,087 shares during the period. Allianz Asset Management GmbH owned approximately 1.30% of Valmont Industries worth $102,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Robert B. Daugherty Foundation purchased a new stake in shares of Valmont Industries during the 4th quarter valued at about $100,580,000. Norges Bank purchased a new stake in shares of Valmont Industries during the 4th quarter valued at about $99,799,000. Ninety One UK Ltd purchased a new stake in shares of Valmont Industries during the 4th quarter valued at about $66,103,000. AQR Capital Management LLC increased its position in shares of Valmont Industries by 118.8% during the 3rd quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company's stock valued at $108,884,000 after purchasing an additional 153,418 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Valmont Industries by 882.8% during the 3rd quarter. Schroder Investment Management Group now owns 98,962 shares of the industrial products company's stock valued at $37,829,000 after purchasing an additional 88,893 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

Valmont Industries Price Performance

NYSE VMI opened at $513.12 on Thursday. Valmont Industries, Inc. has a 12 month low of $316.56 and a 12 month high of $548.90. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 1.23 and a beta of 1.34. The company's 50 day moving average is $483.00 and its two-hundred day moving average is $448.15. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47.

Valmont Industries (NYSE:VMI - Get Free Report) last released its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, topping analysts' consensus estimates of $4.72 by $0.79. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $994.85 million. During the same quarter last year, the business earned $4.32 EPS. The firm's revenue was up 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Valmont Industries, Inc. will post 22.83 earnings per share for the current year.

Valmont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 26th. Valmont Industries's dividend payout ratio (DPR) is 17.10%.

Insider Transactions at Valmont Industries

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $492.34, for a total transaction of $8,615,950.00. Following the completion of the sale, the director directly owned 112,309 shares of the company's stock, valued at $55,294,213.06. This trade represents a 13.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Zacks Research raised shares of Valmont Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 23rd. Stifel Nicolaus upped their price target on shares of Valmont Industries from $497.00 to $541.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Valmont Industries from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 31st. Oppenheimer set a $600.00 target price on shares of Valmont Industries and gave the stock an "outperform" rating in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Valmont Industries from $480.00 to $510.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Valmont Industries presently has an average rating of "Buy" and a consensus target price of $525.25.

Valmont Industries 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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