Corient Private Wealth LP Acquires 2,804 Shares of Valmont Industries, Inc. $VMI

Key Points

• Corient Private Wealth increased its Valmont Industries stake by 11.6% in the second quarter, purchasing 2,804 shares and bringing its holdings to 26,960 shares valued at approximately $15.6 million.
• Valmont reported quarterly revenue of $1.12 billion and adjusted earnings of $6.14 per share, exceeding analyst estimates; revenue rose 6.5% year over year. Institutional investors collectively own 87.84% of the company.
• The company declared a quarterly dividend of $0.77 per share, equivalent to an annualized $3.08 dividend and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $587.

Corient Private Wealth LP raised its stake in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 11.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,960 shares of the industrial products company's stock after buying an additional 2,804 shares during the period. Corient Private Wealth LP owned 0.14% of Valmont Industries worth $15,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Valmont Industries in the second quarter valued at about $4,101,000. AlphaGrep UK Ltd bought a new position in Valmont Industries in the 2nd quarter worth approximately $587,000. Turner Financial Group Inc. bought a new position in Valmont Industries in the 2nd quarter worth approximately $304,000. denkapparat Operations GmbH lifted its holdings in shares of Valmont Industries by 179.3% during the second quarter. denkapparat Operations GmbH now owns 1,514 shares of the industrial products company's stock worth $874,000 after buying an additional 972 shares during the last quarter. Finally, Nykredit A S acquired a new position in shares of Valmont Industries during the second quarter worth approximately $593,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Valmont Industries Stock Up 0.2%

Shares of NYSE VMI opened at $473.19 on Wednesday. Valmont Industries, Inc. has a 52-week low of $361.50 and a 52-week high of $585.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.35. The business has a fifty day moving average of $494.23 and a two-hundred day moving average of $487.24. The stock has a market cap of $9.14 billion, a PE ratio of 18.43, a PEG ratio of 1.08 and a beta of 1.34.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.34. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm earned $4.88 EPS. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that Valmont Industries, Inc. will post 23.08 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

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

Analyst Ratings Changes

VMI has been the subject of several research analyst reports. Zacks Research cut shares of Valmont Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Wall Street Zen downgraded shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Stifel Nicolaus upped their price objective on shares of Valmont Industries from $645.00 to $678.00 and gave the company a "buy" rating in a research report on Monday, July 20th. JPMorgan Chase & Co. increased their target price on shares of Valmont Industries from $600.00 to $620.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Valmont Industries has a consensus rating of "Moderate Buy" and an average price target of $587.00.

Insiders Place Their Bets

In related news, CFO John L. Schwietz purchased 208 shares of the firm's stock in a transaction dated Thursday, July 23rd. The shares were acquired at an average cost of $486.14 per share, with a total value of $101,117.12. Following the completion of the purchase, the chief financial officer directly owned 2,992 shares of the company's stock, valued at $1,454,530.88. This trade represents a 7.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodor Freye sold 800 shares of the firm's stock in a transaction that occurred on 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 sale, the director directly owned 2,805 shares of the company's stock, valued at approximately $1,388,475. This represents a 22.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.42% of the company's stock.

Valmont Industries Profile

Valmont Industries, Inc is a global manufacturer of engineered products and services serving the infrastructure and agricultural markets. Founded in 1946 and headquartered in Omaha, Nebraska, the company operates through its Infrastructure and Agriculture segments.

Valmont's Infrastructure segment provides utility and substation structures, engineered poles, lighting and traffic structures, wireless communication infrastructure, transportation products, and protective coatings for steel and other materials.

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