Bank of New York Mellon Corp Buys Shares of 144,951 Valmont Industries, Inc. $VMI

Key Points

• Bank of New York Mellon acquired 144,951 Valmont Industries shares worth approximately $83.7 million, giving it a 0.75% stake. Institutional investors collectively own 87.84% of VMI.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $587, while targets from Stifel and JPMorgan were recently raised to $678 and $620, respectively.
• Valmont’s latest quarterly results exceeded expectations, with earnings of $6.14 per share and revenue of $1.12 billion; the company also declared a quarterly dividend of $0.77 per share.

Bank of New York Mellon Corp acquired a new position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 144,951 shares of the industrial products company's stock, valued at approximately $83,723,000. Bank of New York Mellon Corp owned about 0.75% of Valmont Industries as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new position in Valmont Industries during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Valmont Industries in the fourth quarter worth $27,000. Leonteq Securities AG acquired a new stake in Valmont Industries in the fourth quarter valued at $30,000. State of Wyoming acquired a new position in shares of Valmont Industries during the 4th quarter worth $34,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Valmont Industries in the 1st quarter valued at about $37,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Valmont Industries

In related news, CFO John L. Schwietz bought 208 shares of the stock in a transaction dated Thursday, July 23rd. The stock was acquired at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the completion of the purchase, the chief financial officer owned 2,992 shares in the company, valued at $1,454,530.88. This represents a 7.47% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodor Werner Freye sold 800 shares of the firm's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the sale, the director owned 2,805 shares in the company, valued at approximately $1,388,475. The trade was a 22.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on VMI. Weiss Ratings downgraded shares of Valmont Industries from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, August 14th. Wall Street Zen downgraded Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Oppenheimer set a $600.00 price objective on Valmont Industries and gave the stock an "outperform" rating in a report on Thursday, May 28th. Stifel Nicolaus lifted 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. Finally, JPMorgan Chase & Co. upped 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. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Valmont Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $587.00.

Valmont Industries Trading Down 1.6%

VMI stock opened at $473.67 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 1.10 and a beta of 1.35. The business has a fifty day simple moving average of $521.39 and a 200-day simple moving average of $486.20. Valmont Industries, Inc. has a 52 week low of $360.41 and a 52 week high of $585.71.

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, beating analysts' consensus estimates of $5.80 by $0.34. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.09 billion. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.88 earnings per share. On average, equities research analysts expect that Valmont Industries, Inc. will post 23.08 EPS for the current year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $3.08 annualized dividend and a yield of 0.7%. Valmont Industries's dividend payout ratio (DPR) is 11.99%.

About Valmont Industries

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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