Danske Bank A S Acquires Shares of 17,900 Valmont Industries, Inc. $VMI

Key Points

• Danske Bank acquired 17,900 shares of Valmont Industries in the second quarter, valued at approximately $10.34 million, giving it a 0.09% stake. Institutional investors collectively own 87.84% of the company.
• Valmont reported quarterly earnings of $6.14 per share, exceeding the $5.80 consensus estimate, while revenue rose 6.5% year over year to $1.12 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $587.
• The company declared a quarterly dividend of $0.77 per share, equivalent to $3.08 annually and a 0.6% yield. Recent insider activity was mixed, with a director selling shares and the CFO purchasing 208 shares.

Danske Bank A S bought a new position in Valmont Industries, Inc. (NYSE:VMI - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 17,900 shares of the industrial products company's stock, valued at approximately $10,339,000. Danske Bank A S owned 0.09% of Valmont Industries at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Millennium Management LLC raised its position in shares of Valmont Industries by 225.1% in the 1st quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company's stock worth $19,300,000 after acquiring an additional 46,825 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Valmont Industries by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company's stock valued at $16,873,000 after purchasing an additional 4,676 shares in the last quarter. Empowered Funds LLC purchased a new stake in Valmont Industries in the first quarter worth $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Valmont Industries by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company's stock worth $20,692,000 after purchasing an additional 2,639 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Valmont Industries by 223.4% in the first quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company's stock worth $43,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Buying and Selling at Valmont Industries

In other Valmont Industries news, Director Theodor Werner Freye sold 800 shares of the firm's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $495.00, for a total value of $396,000.00. Following the transaction, the director directly owned 2,805 shares of the company's stock, valued at approximately $1,388,475. This trade represents a 22.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John L. Schwietz purchased 208 shares of the business's stock in a transaction on Thursday, July 23rd. The shares were purchased at an average price of $486.14 per share, with a total value of $101,117.12. Following the completion of the purchase, the chief financial officer owned 2,992 shares in the company, valued at approximately $1,454,530.88. This trade represents a 7.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VMI shares. JPMorgan Chase & Co. boosted their target price on shares of Valmont Industries from $600.00 to $620.00 and gave the company an "overweight" rating in a report on Wednesday, July 22nd. Wall Street Zen cut shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Stifel Nicolaus lifted their price target 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. Weiss Ratings lowered shares of Valmont Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. Finally, Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the stock an "outperform" rating in a report on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Valmont Industries presently has an average rating of "Moderate Buy" and a consensus target price of $587.00.

Valmont Industries Price Performance

VMI opened at $486.94 on Friday. 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 stock has a market capitalization of $9.40 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.10 and a beta of 1.35. The company's 50-day simple moving average is $524.20 and its two-hundred day simple moving average is $485.67. Valmont Industries, Inc. has a 52-week low of $360.41 and a 52-week high of $585.71.

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

Valmont Industries Dividend Announcement

The company also recently declared 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. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, September 25th. Valmont Industries's dividend payout ratio (DPR) is 11.99%.

About Valmont Industries

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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