Oliver Luxxe Assets LLC Reduces Stock Holdings in Valmont Industries, Inc. $VMI

Key Points

• Oliver Luxxe Assets LLC cut its Valmont Industries stake by 38.5% in the second quarter, selling 3,026 shares and retaining 4,832 shares valued at approximately $2.79 million. Institutional investors and hedge funds collectively own 87.84% of VMI.
• Valmont reported quarterly earnings of $6.14 per share, beating estimates of $5.80, while revenue rose 6.5% year over year to $1.12 billion. Analysts maintain a “Moderate Buy” consensus rating 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, payable October 15 to shareholders of record on September 25.

Oliver Luxxe Assets LLC trimmed its holdings in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 38.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,832 shares of the industrial products company's stock after selling 3,026 shares during the period. Oliver Luxxe Assets LLC's holdings in Valmont Industries were worth $2,791,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Invesco Ltd. raised its holdings in Valmont Industries by 8.3% in the 3rd quarter. Invesco Ltd. now owns 422,997 shares of the industrial products company's stock valued at $164,009,000 after buying an additional 32,382 shares during the period. Geode Capital Management LLC boosted its stake in Valmont Industries by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 369,059 shares of the industrial products company's stock worth $148,509,000 after buying an additional 12,480 shares during the period. Sei Investments Co. boosted its stake in Valmont Industries by 3.1% during the third quarter. Sei Investments Co. now owns 290,948 shares of the industrial products company's stock worth $112,809,000 after buying an additional 8,715 shares during the period. AQR Capital Management LLC increased its position in shares of Valmont Industries by 118.8% during the third quarter. AQR Capital Management LLC now owns 282,610 shares of the industrial products company's stock valued at $108,884,000 after acquiring an additional 153,418 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Valmont Industries by 3.7% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 252,605 shares of the industrial products company's stock valued at $100,933,000 after acquiring an additional 9,130 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Transactions at Valmont Industries

In other Valmont Industries news, CFO John L. Schwietz purchased 208 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was purchased at an average cost of $486.14 per share, with a total value of $101,117.12. Following the completion of the acquisition, the chief financial officer directly owned 2,992 shares of the company's stock, valued at $1,454,530.88. This trade represents a 7.47% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodor Werner Freye sold 800 shares of the stock in a transaction that occurred 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 transaction, the director owned 2,805 shares in the company, valued at $1,388,475. This represents a 22.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.42% of the company's stock.

Valmont Industries Price Performance

Valmont Industries stock opened at $494.14 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $532.95 and a 200-day simple moving average of $482.32. The stock has a market cap of $9.54 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. Valmont Industries, Inc. has a 12-month low of $360.41 and a 12-month high of $585.71.

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

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be issued a $0.77 dividend. The ex-dividend date is Friday, September 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.6%. Valmont Industries's dividend payout ratio is presently 11.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. 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. Weiss Ratings upgraded shares of Valmont Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 30th. Zacks Research lowered Valmont Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Wall Street Zen cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. raised their price target on Valmont Industries from $600.00 to $620.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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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