HighTower Advisors LLC Sells 4,662 Shares of Valmont Industries, Inc. $VMI

Key Points

• HighTower Advisors LLC trimmed its Valmont Industries stake by 2.9% in the fourth quarter, selling 4,662 shares and leaving it with 156,488 shares worth about $62.96 million.
• Valmont reported better-than-expected quarterly results, posting EPS of $5.51 versus estimates of $4.72 and revenue of $1.03 billion, which was also above expectations.
• The company announced a quarterly dividend of $0.77 per share, payable July 15, while analysts currently have a consensus rating of Moderate Buy with an average price target of $500.33.

HighTower Advisors LLC lessened its position in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 156,488 shares of the industrial products company's stock after selling 4,662 shares during the period. HighTower Advisors LLC owned approximately 0.79% of Valmont Industries worth $62,958,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of VMI. Azzad Asset Management Inc. ADV acquired a new position in shares of Valmont Industries in the third quarter valued at approximately $739,000. Jackson Creek Investment Advisors LLC acquired a new position in Valmont Industries during the 3rd quarter worth approximately $1,658,000. Congress Asset Management Co. grew its stake in shares of Valmont Industries by 14.1% during the 4th quarter. Congress Asset Management Co. now owns 85,346 shares of the industrial products company's stock worth $34,336,000 after acquiring an additional 10,518 shares in the last quarter. Cornerstone Planning Group LLC bought a new position in shares of Valmont Industries during the 3rd quarter worth approximately $5,663,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Valmont Industries by 1.2% in the third quarter. Allianz Asset Management GmbH now owns 283,740 shares of the industrial products company's stock worth $110,015,000 after purchasing an additional 3,379 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Insiders Place Their Bets

In other Valmont Industries news, Director Mogens C. Bay sold 17,500 shares of Valmont Industries stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $492.34, for a total value of $8,615,950.00. Following the completion of the sale, the director owned 112,309 shares in the company, valued at $55,294,213.06. The trade was a 13.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.42% of the stock is owned by company insiders.

Valmont Industries Stock Performance

NYSE VMI opened at $503.81 on Thursday. The firm has a 50-day moving average of $446.31 and a 200-day moving average of $434.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 2.38. The stock has a market cap of $9.78 billion, a PE ratio of 27.97 and a beta of 1.36. Valmont Industries, Inc. has a 52-week low of $305.07 and a 52-week high of $528.49.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.72 by $0.79. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $994.85 million. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. Valmont Industries's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $4.32 EPS. On average, sell-side analysts anticipate that Valmont Industries, Inc. will post 22.78 EPS for the current year.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, June 26th. Valmont Industries's dividend payout ratio (DPR) is currently 17.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Valmont Industries from $497.00 to $541.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. DA Davidson lifted their price objective on shares of Valmont Industries from $415.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, February 18th. Weiss Ratings reissued a "hold (c+)" rating on shares of Valmont Industries in a research report on Friday, March 27th. Zacks Research raised shares of Valmont Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Valmont Industries from $480.00 to $510.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $500.33.

Valmont Industries Company 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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