Callan Family Office LLC bought a new position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,299 shares of the industrial products company's stock, valued at approximately $2,483,000.
Several other hedge funds have also recently bought and sold shares of VMI. BlackRock Inc. bought a new position in Valmont Industries in the second quarter valued at approximately $1,141,369,000. Norges Bank bought a new stake in shares of Valmont Industries during the fourth quarter worth $99,799,000. AQR Capital Management LLC increased its position in shares of Valmont Industries by 118.8% during the third quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company's stock worth $108,884,000 after acquiring an additional 153,418 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Valmont Industries during the second quarter worth $83,723,000. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Valmont Industries by 179.6% during the second quarter. Qube Research & Technologies Ltd now owns 117,342 shares of the industrial products company's stock worth $38,320,000 after acquiring an additional 75,377 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.
Valmont Industries Price Performance
NYSE VMI opened at $486.94 on Friday. The firm's 50 day moving average is $524.20 and its 200-day moving average is $485.67. 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 capitalization of $9.40 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. Valmont Industries, Inc. has a 12-month low of $360.41 and a 12-month high of $585.71.
Valmont Industries (NYSE:VMI - Get Free Report) last announced its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 EPS for the quarter, topping the consensus estimate of $5.80 by $0.34. The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The firm's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.88 earnings per share. Equities research analysts anticipate that Valmont Industries, Inc. will post 23.08 earnings per share for the current fiscal year.
Valmont Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $3.08 annualized dividend and a yield of 0.6%. Valmont Industries's payout ratio is 11.99%.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on VMI shares. Zacks Research lowered shares of Valmont Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Oppenheimer set a $600.00 price target on Valmont Industries and gave the company an "outperform" rating in a research note on Thursday, May 28th. Weiss Ratings lowered Valmont Industries from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, August 14th. Wall Street Zen cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Stifel Nicolaus increased their price objective on Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Valmont Industries presently has a consensus rating of "Moderate Buy" and an average target price of $587.00.
Read Our Latest Research Report on VMI
Insider Transactions at Valmont Industries
In other news, Director Theodor Werner Freye sold 800 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $495.00, for a total transaction of $396,000.00. Following the completion of the transaction, the director directly owned 2,805 shares in the company, valued at $1,388,475. This represents a 22.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John L. Schwietz acquired 208 shares of the firm's stock in a transaction dated Thursday, July 23rd. The stock was bought at an average price of $486.14 per share, with a total value of $101,117.12. Following the acquisition, the chief financial officer directly 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 SEC filing for this purchase provides additional information. Corporate insiders own 1.42% of the company's stock.
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.
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