Covea Finance Raises Stock Holdings in Valmont Industries, Inc. $VMI

Key Points

• Covea Finance increased its holdings in Valmont Industries, Inc. by 30.1% in the second quarter, owning approximately $6.07 million in shares after purchasing an additional 4,300 shares.
• The company reported Q2 earnings per share of $4.88, beating analyst estimates, and had a revenue of $1.05 billion, which was above the consensus estimate.
• Valmont Industries announced a quarterly dividend of $0.68 per share, payable on October 15th, which equates to an annualized yield of 0.7%.

Covea Finance lifted its holdings in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 30.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,600 shares of the industrial products company's stock after buying an additional 4,300 shares during the quarter. Covea Finance owned approximately 0.09% of Valmont Industries worth $6,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC bought a new position in shares of Valmont Industries in the 1st quarter worth $27,000. Smartleaf Asset Management LLC lifted its position in Valmont Industries by 87.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 107 shares of the industrial products company's stock worth $31,000 after acquiring an additional 50 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Valmont Industries by 223.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company's stock valued at $43,000 after buying an additional 105 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Valmont Industries by 128.8% during the 2nd quarter. Parallel Advisors LLC now owns 151 shares of the industrial products company's stock valued at $49,000 after buying an additional 85 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Valmont Industries by 82.3% in the 1st quarter. GAMMA Investing LLC now owns 226 shares of the industrial products company's stock valued at $64,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on VMI. Wall Street Zen cut Valmont Industries from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. DA Davidson boosted their target price on Valmont Industries from $380.00 to $400.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Stifel Nicolaus upped their price objective on Valmont Industries from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $391.00.

Valmont Industries Price Performance

Shares of NYSE:VMI opened at $375.78 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 2.15 and a debt-to-equity ratio of 0.48. Valmont Industries, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $388.55. The firm has a 50-day simple moving average of $366.71 and a 200 day simple moving average of $329.90. The company has a market cap of $7.42 billion, a PE ratio of 34.99 and a beta of 1.14.

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

Valmont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, September 26th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, September 26th. Valmont Industries's dividend payout ratio is currently 25.33%.

Insiders Place Their Bets

In other Valmont Industries news, CAO Timothy P. Francis sold 2,867 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $358.52, for a total value of $1,027,876.84. Following the completion of the sale, the chief accounting officer owned 9,746 shares of the company's stock, valued at $3,494,135.92. The trade was a 22.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company's stock.

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.

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