Alps Advisors Inc. Acquires 12,030 Shares of Valmont Industries, Inc. $VMI

Key Points

• Alps Advisors increased its Valmont Industries stake by 375.2% in the third quarter, buying 12,030 shares to hold 15,236 shares valued at about $7.05 million. Institutional investors collectively own 87.84% of the company.
• Valmont reported quarterly EPS of $6.24, above the $5.70 consensus, while revenue of $1.10 billion fell short of estimates but rose 5.5% year over year.
• The company declared a quarterly dividend of $0.77 per share, equivalent to an annualized yield of 0.8%. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $587.

Alps Advisors Inc. lifted its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 375.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,236 shares of the industrial products company's stock after purchasing an additional 12,030 shares during the period. Alps Advisors Inc. owned about 0.08% of Valmont Industries worth $7,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CenterBook Partners LP purchased a new position in shares of Valmont Industries in the 3rd quarter valued at about $246,000. Chicago Partners Investment Group LLC raised its holdings in shares of Valmont Industries by 3.6% in the third quarter. Chicago Partners Investment Group LLC now owns 2,219 shares of the industrial products company's stock valued at $965,000 after buying an additional 77 shares during the last quarter. Verity Asset Management Inc. lifted its position in Valmont Industries by 2.5% during the 3rd quarter. Verity Asset Management Inc. now owns 5,479 shares of the industrial products company's stock worth $2,537,000 after acquiring an additional 136 shares during the period. Ascent Group LLC purchased a new position in Valmont Industries in the 3rd quarter valued at $438,000. Finally, First Nebraska Trust Co purchased a new stake in shares of Valmont Industries in the third quarter valued at about $509,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Valmont Industries Stock Performance

Shares of VMI opened at $403.71 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.56 and a debt-to-equity ratio of 0.43. The stock has a market cap of $7.73 billion, a P/E ratio of 14.99, a PEG ratio of 0.91 and a beta of 1.39. The company has a 50-day moving average of $458.94 and a two-hundred day moving average of $476.77. Valmont Industries, Inc. has a 12-month low of $378.02 and a 12-month high of $585.71.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $6.24 earnings per share (EPS) for the quarter, beating 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 net margin of 12.05% and a return on equity of 26.25%. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.98 earnings per share. As a group, research analysts predict that Valmont Industries, Inc. will post 23.33 EPS for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 24th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, December 24th. Valmont Industries's payout ratio is 11.43%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings cut Valmont Industries from a "buy (b)" rating to a "hold (c)" rating in a report on Wednesday, October 28th. Stifel Nicolaus boosted their price objective on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Wall Street Zen lowered shares of Valmont Industries from a "buy" rating to a "hold" rating in a research report on Sunday, November 1st. JPMorgan Chase & Co. boosted their price target on Valmont Industries from $600.00 to $620.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Finally, Zacks Research cut Valmont Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $587.00.

Valmont Industries Company Profile

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.