Meeder Asset Management Inc. Buys Shares of 6,127 Valmont Industries, Inc. $VMI

Key Points

• Meeder Asset Management acquired 6,127 shares of Valmont Industries in the second quarter, worth approximately $3.54 million. Institutional investors collectively own 87.84% of the company.
• Valmont reported quarterly EPS of $6.14, exceeding estimates of $5.80, while revenue rose 6.5% year over year to $1.12 billion. Shares were trading at $487.62, down 3.8%.
• The company declared a quarterly dividend of $0.77 per share, representing an annualized dividend of $3.08 and a 0.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $587.

Meeder Asset Management Inc. purchased a new position in Valmont Industries, Inc. (NYSE:VMI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,127 shares of the industrial products company's stock, valued at approximately $3,539,000.

Several other institutional investors also recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in Valmont Industries by 225.1% during the first 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 period. Goldman Sachs Group Inc. increased its holdings in shares of Valmont Industries by 8.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company's stock valued at $16,873,000 after acquiring an additional 4,676 shares during the period. Empowered Funds LLC bought a new position in shares of Valmont Industries in the 1st quarter worth $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Valmont Industries by 3.8% in 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 acquiring an additional 2,639 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted 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 purchasing an additional 105 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Valmont Industries

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

Valmont Industries Trading Down 3.8%

Shares of Valmont Industries stock opened at $487.62 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.42. Valmont Industries, Inc. has a 12-month low of $360.41 and a 12-month high of $585.71. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.13 and a beta of 1.35. The firm's 50 day simple moving average is $526.90 and its two-hundred day simple moving average is $485.14.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (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 business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter last year, the company posted $4.88 earnings per share. The business's quarterly revenue was up 6.5% on a year-over-year basis. Analysts predict that Valmont Industries, Inc. will post 23.08 EPS for the current year.

Valmont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $3.08 dividend on an annualized basis and a yield of 0.6%. Valmont Industries's payout ratio is currently 11.99%.

Analyst Ratings Changes

Several research firms have commented on VMI. Wall Street Zen lowered shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings cut shares of Valmont Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday. Stifel Nicolaus raised their target price on shares of Valmont Industries from $645.00 to $678.00 and gave the company a "buy" rating in a research note on Monday, July 20th. JPMorgan Chase & Co. lifted their price target on shares of Valmont Industries from $600.00 to $620.00 and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. Finally, Zacks Research lowered Valmont Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Valmont Industries currently has an average rating of "Moderate Buy" and an average target price of $587.00.

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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