Comerica Bank Reduces Position in Valmont Industries, Inc. $VMI

Key Points

• Comerica Bank has reduced its stake in Valmont Industries by 19.8% during the first quarter, now holding approximately 10,058 shares valued at about $2.87 million.
• Valmont Industries reported earnings of $4.88 per share for the last quarter, exceeding analysts' expectations, with a revenue of $1.05 billion, a 1.0% increase year-over-year.
• The company has announced a quarterly dividend of $0.68 per share, representing a 0.7% yield with a payout ratio of 25.33%.

Comerica Bank lessened its holdings in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 19.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,058 shares of the industrial products company's stock after selling 2,480 shares during the period. Comerica Bank owned 0.05% of Valmont Industries worth $2,870,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Beverly Hills Private Wealth LLC increased its stake in Valmont Industries by 3.8% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 1,169 shares of the industrial products company's stock worth $334,000 after buying an additional 43 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Valmont Industries by 87.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 107 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 50 shares during the last quarter. Vestcor Inc boosted its holdings in shares of Valmont Industries by 2.0% during the 1st quarter. Vestcor Inc now owns 2,651 shares of the industrial products company's stock valued at $757,000 after purchasing an additional 51 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Valmont Industries by 23.9% during the 1st quarter. Signaturefd LLC now owns 270 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 52 shares during the last quarter. Finally, TBH Global Asset Management LLC boosted its holdings in shares of Valmont Industries by 1.5% during the 1st quarter. TBH Global Asset Management LLC now owns 3,945 shares of the industrial products company's stock valued at $1,126,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on VMI. Wall Street Zen raised shares of Valmont Industries from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Stifel Nicolaus increased their price target on shares of Valmont Industries from $345.00 to $382.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, DA Davidson increased their price target on shares of Valmont Industries from $380.00 to $400.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $391.00.

Valmont Industries Trading Up 2.1%

Shares of Valmont Industries stock traded up $7.85 on Thursday, hitting $375.14. 172,546 shares of the company traded hands, compared to its average volume of 167,494. The stock's 50 day moving average price is $356.36 and its 200-day moving average price is $327.24. The company has a current ratio of 2.15, a quick ratio of 1.44 and a debt-to-equity ratio of 0.48. Valmont Industries, Inc. has a 52 week low of $250.07 and a 52 week high of $384.08. The company has a market cap of $7.40 billion, a PE ratio of 34.93 and a beta of 1.14.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.10. Valmont Industries had a net margin of 5.98% and a return on equity of 22.10%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $4.91 earnings per share. The company's revenue was up 1.0% on a year-over-year basis. Valmont Industries has set its FY 2025 guidance at 17.500-19.500 EPS. Equities research analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Friday, September 26th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, September 26th. Valmont Industries's dividend payout ratio (DPR) is presently 25.33%.

Insider Transactions at Valmont Industries

In related news, CAO Timothy P. Francis sold 2,867 shares of Valmont Industries stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $358.52, for a total transaction of $1,027,876.84. Following the transaction, the chief accounting officer directly owned 9,746 shares of the company's stock, valued at $3,494,135.92. This trade represents a 22.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by insiders.

Valmont Industries Company Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.