Avalon Trust Co purchased a new position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 39,748 shares of the industrial products company's stock, valued at approximately $22,958,000. Valmont Industries comprises approximately 1.4% of Avalon Trust Co's holdings, making the stock its 19th biggest holding. Avalon Trust Co owned about 0.21% of Valmont Industries as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Valmont Industries by 6,762.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,853 shares of the industrial products company's stock worth $3,562,000 after buying an additional 8,724 shares in the last quarter. Congruence Capital LLC bought a new stake in shares of Valmont Industries in the 4th quarter valued at about $15,011,000. Vaughan Nelson Investment Management L.P. boosted 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 worth $100,933,000 after purchasing an additional 9,130 shares in the last quarter. Leuthold Group LLC lifted its position in shares of Valmont Industries by 983.7% in the fourth quarter. Leuthold Group LLC now owns 11,498 shares of the industrial products company's stock worth $4,626,000 after purchasing an additional 10,437 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Valmont Industries during the fourth quarter worth $1,785,000. Institutional investors and hedge funds own 87.84% of the company's stock.
Insider Activity
In related news, Director Theodor Werner Freye sold 800 shares of Valmont Industries stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the sale, the director directly owned 2,805 shares in the company, valued at $1,388,475. This trade represents a 22.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John L. Schwietz bought 208 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The stock was purchased at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the transaction, the chief financial officer owned 2,992 shares of the company's stock, valued at $1,454,530.88. The trade was a 7.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.42% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 30th. Wall Street Zen downgraded Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Stifel Nicolaus raised 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. JPMorgan Chase & Co. increased their price target on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. Finally, Oppenheimer set a $600.00 price objective on Valmont Industries and gave the stock an "outperform" rating in a report on Thursday, May 28th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $587.00.
Check Out Our Latest Stock Report on VMI
Valmont Industries Price Performance
Shares of NYSE:VMI opened at $495.55 on Friday. Valmont Industries, Inc. has a twelve month low of $360.41 and a twelve month high of $585.71. The stock has a market capitalization of $9.57 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. The firm's 50 day moving average price is $528.35 and its 200-day moving average price is $484.15. 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 issued its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share 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 firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the business earned $4.88 earnings per share. Valmont Industries's revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts expect that Valmont Industries, Inc. will post 23.08 EPS for the current year.
Valmont Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, September 25th. Valmont Industries's payout ratio is 11.99%.
Valmont Industries Profile
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Free Report)
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.
Further Reading
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