HighTower Advisors LLC Reduces Position in Valmont Industries, Inc. (NYSE:VMI)

Key Points

• HighTower Advisors LLC has decreased its position in Valmont Industries by 1.2%, holding 163,885 shares valued at approximately $46.77 million.
• Valmont Industries recently announced a quarterly dividend of $0.68 per share, set to be paid on October 15th, with a dividend yield of 0.7%.
• Analysts have mixed ratings on Valmont Industries, with some lowering ratings while others increased target prices, reflecting differing market sentiments.

HighTower Advisors LLC decreased its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,885 shares of the industrial products company's stock after selling 2,026 shares during the quarter. HighTower Advisors LLC owned about 0.82% of Valmont Industries worth $46,768,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of VMI. LPL Financial LLC grew its holdings in shares of Valmont Industries by 37.8% in the fourth quarter. LPL Financial LLC now owns 3,999 shares of the industrial products company's stock valued at $1,226,000 after purchasing an additional 1,098 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Valmont Industries by 5.9% in the fourth quarter. Wells Fargo & Company MN now owns 8,577 shares of the industrial products company's stock valued at $2,630,000 after purchasing an additional 481 shares during the period. Federated Hermes Inc. grew its holdings in shares of Valmont Industries by 23.4% in the fourth quarter. Federated Hermes Inc. now owns 2,413 shares of the industrial products company's stock valued at $740,000 after purchasing an additional 458 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Valmont Industries in the fourth quarter valued at about $4,166,000. Finally, Sterling Capital Management LLC grew its holdings in shares of Valmont Industries by 391.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,789 shares of the industrial products company's stock valued at $1,162,000 after purchasing an additional 3,018 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

Wall Street Analyst Weigh In

VMI has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Valmont Industries from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Stifel Nicolaus upped their target price on shares of Valmont Industries from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Monday, July 21st. William Blair raised shares of Valmont Industries from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 23rd. Finally, DA Davidson upped their target price on shares of Valmont Industries from $380.00 to $400.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd.

Insider Activity

In other news, CAO Timothy P. Francis sold 2,867 shares of the stock in a transaction dated 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 sale, the chief accounting officer owned 9,746 shares of the company's stock, valued at approximately $3,494,135.92. This represents a 22.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company's stock.

Valmont Industries Trading Up 0.4%

NYSE VMI opened at $380.52 on Thursday. The firm's 50-day moving average is $341.87 and its two-hundred day moving average is $322.67. Valmont Industries, Inc. has a 12 month low of $250.07 and a 12 month high of $384.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.15 and a quick ratio of 1.44. The stock has a market capitalization of $7.51 billion, a P/E ratio of 35.43 and a beta of 1.12.

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

Valmont Industries Announces Dividend

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

About Valmont Industries

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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