Corient Private Wealth LP Makes New Investment in Valmont Industries, Inc. $VMI

Key Points

• Corient Private Wealth acquired 27,221 Valmont Industries shares in the second quarter, worth approximately $15.7 million, giving it a 0.14% stake. Institutional investors and hedge funds collectively own 87.84% of the company.
• Valmont reported quarterly EPS of $6.14, exceeding the $5.80 analyst consensus, while revenue rose 6.5% year over year to $1.12 billion. Shares recently opened at $476.92, down 0.8%.
• The company declared a quarterly dividend of $0.77 per share, equivalent to an annualized $3.08 payout and a 0.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $587.

Corient Private Wealth LP acquired a new stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 27,221 shares of the industrial products company's stock, valued at approximately $15,723,000. Corient Private Wealth LP owned 0.14% of Valmont Industries as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Valmont Industries during the 2nd quarter valued at about $1,141,369,000. Invesco Ltd. boosted its position in shares of Valmont Industries by 8.3% in the third quarter. Invesco Ltd. now owns 422,997 shares of the industrial products company's stock worth $164,009,000 after acquiring an additional 32,382 shares during the last quarter. Geode Capital Management LLC grew its holdings in Valmont Industries by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 369,059 shares of the industrial products company's stock valued at $148,509,000 after purchasing an additional 12,480 shares during the period. Bank of America Corp DE purchased a new stake in Valmont Industries in the second quarter valued at approximately $175,408,000. Finally, Sei Investments Co. increased its position in Valmont Industries by 3.1% during the third quarter. Sei Investments Co. now owns 290,948 shares of the industrial products company's stock worth $112,809,000 after purchasing an additional 8,715 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Valmont Industries

In related news, CFO John L. Schwietz bought 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 completion of the transaction, the chief financial officer directly owned 2,992 shares of the company's stock, valued at approximately $1,454,530.88. This represents a 7.47% increase in their ownership of the stock. The acquisition 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 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 completion of the sale, the director owned 2,805 shares of the company's stock, valued at approximately $1,388,475. This trade represents a 22.19% decrease in their position. The SEC filing for this sale provides additional information. 1.42% of the stock is currently owned by corporate insiders.

Valmont Industries Trading Down 0.8%

Shares of VMI stock opened at $476.92 on Friday. 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, Inc. has a fifty-two week low of $360.41 and a fifty-two week high of $585.71. The firm's 50 day moving average price is $515.90 and its two-hundred day moving average price is $486.31. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 1.09 and a beta of 1.35.

Valmont Industries (NYSE:VMI - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) 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 company 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. The business's quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts anticipate that Valmont Industries, Inc. will post 23.08 EPS for the current year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be issued 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 dividend payout ratio is currently 11.99%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VMI shares. 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 research note on Wednesday, July 22nd. Wall Street Zen downgraded Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Oppenheimer set a $600.00 target price on Valmont Industries and gave the stock an "outperform" rating in a research report on Thursday, May 28th. Zacks Research cut Valmont Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Finally, Stifel Nicolaus boosted their price target on Valmont Industries from $645.00 to $678.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $587.00.

Valmont Industries Profile

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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