Kingsview Wealth Management LLC Invests $2.85 Million in Valmont Industries, Inc. $VMI

Key Points

• Kingsview Wealth Management opened a new position in Valmont Industries, buying 7,086 shares valued at about $2.85 million in the fourth quarter.
• Valmont reported better-than-expected quarterly results, with earnings of $5.51 per share on revenue of $1.03 billion, both above analyst estimates.
• The company also announced a quarterly dividend of $0.77 per share, while analysts remain generally bullish with a consensus Buy rating and price target of $525.25.

Kingsview Wealth Management LLC purchased a new position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,086 shares of the industrial products company's stock, valued at approximately $2,851,000.

Several other hedge funds and other institutional investors have also made changes to their positions in VMI. Millennium Management LLC raised its stake in shares of Valmont Industries by 225.1% during the 1st quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company's stock worth $19,300,000 after buying an additional 46,825 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Valmont Industries by 8.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company's stock worth $16,873,000 after buying an additional 4,676 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Valmont Industries during the 1st quarter worth $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Valmont Industries by 3.8% during the 1st 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 buying an additional 2,639 shares during the last quarter. Finally, 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 worth $43,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Valmont Industries Stock Down 1.0%

VMI opened at $519.42 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.38 and a quick ratio of 1.59. The stock has a market capitalization of $10.08 billion, a price-to-earnings ratio of 28.84 and a beta of 1.36. The business has a 50-day moving average of $460.83 and a two-hundred day moving average of $440.09. Valmont Industries, Inc. has a 12 month low of $310.00 and a 12 month high of $535.32.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $5.51 EPS for the quarter, beating the consensus estimate 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 return on equity of 24.94% and a net margin of 8.91%.The firm's revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.32 EPS. On average, research analysts expect that Valmont Industries, Inc. will post 22.83 earnings per share for the current year.

Valmont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be issued a $0.77 dividend. The ex-dividend date is Friday, June 26th. This represents a $3.08 annualized dividend and a yield of 0.6%. Valmont Industries's payout ratio is 17.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Valmont Industries from $480.00 to $510.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Zacks Research raised shares of Valmont Industries from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 23rd. Weiss Ratings raised shares of Valmont Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, May 21st. Stifel Nicolaus boosted their target price on shares of Valmont Industries from $497.00 to $541.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Finally, Oppenheimer set a $600.00 target price on shares of Valmont Industries and gave the company an "outperform" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $525.25.

Insider Buying and Selling

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 stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.42% of the stock is owned by company insiders.

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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