Pioneer Trust Bank N A OR Has $17.30 Million Position in Valmont Industries, Inc. $VMI

Key Points

• Pioneer Trust Bank trimmed its Valmont Industries stake by 4.6% in the first quarter, but still held 43,288 shares worth about $17.3 million, making VMI its sixth-largest position.
• Valmont reported strong quarterly results, with earnings of $5.51 per share beating estimates and revenue of $1.03 billion topping forecasts, while revenue rose 6.2% from a year earlier.
• The company also declared a quarterly dividend of $0.77 per share, and analysts remain generally bullish with a consensus Buy rating and a target price of $573.75.

Pioneer Trust Bank N A OR lowered its position in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,288 shares of the industrial products company's stock after selling 2,087 shares during the quarter. Valmont Industries makes up approximately 4.2% of Pioneer Trust Bank N A OR's portfolio, making the stock its 6th biggest position. Pioneer Trust Bank N A OR owned about 0.22% of Valmont Industries worth $17,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. DGS Capital Management LLC lifted its holdings in shares of Valmont Industries by 37.7% in the 1st quarter. DGS Capital Management LLC now owns 873 shares of the industrial products company's stock worth $349,000 after acquiring an additional 239 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of Valmont Industries during the 1st quarter valued at $345,000. V Square Quantitative Management LLC bought a new position in shares of Valmont Industries during the 1st quarter valued at $37,000. HB Wealth Management LLC grew its holdings in shares of Valmont Industries by 5.6% during the 1st quarter. HB Wealth Management LLC now owns 676 shares of the industrial products company's stock valued at $270,000 after purchasing an additional 36 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in Valmont Industries by 671.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 15,959 shares of the industrial products company's stock worth $6,377,000 after purchasing an additional 13,889 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Valmont Industries

In related news, Director Mogens C. Bay sold 17,500 shares of the firm's 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 sale, the director directly owned 112,309 shares of the company's stock, valued at $55,294,213.06. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.42% of the company's stock.

Valmont Industries Stock Down 4.3%

Shares of NYSE VMI opened at $540.00 on Wednesday. The firm's fifty day moving average is $534.02 and its 200 day moving average is $468.30. Valmont Industries, Inc. has a 52 week low of $326.22 and a 52 week high of $585.71. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.30 and a beta of 1.33.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, beating the consensus estimate of $4.72 by $0.79. The business 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%. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.32 EPS. On average, equities research analysts expect that Valmont Industries, Inc. will post 22.83 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th will be issued 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 is currently 17.10%.

Analyst Ratings Changes

VMI has been the subject of several recent research reports. Stifel Nicolaus boosted their price target on shares of Valmont Industries from $541.00 to $645.00 and gave the stock a "buy" rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. raised their price objective on Valmont Industries from $520.00 to $600.00 and gave the company an "overweight" rating in a research note on Wednesday, June 17th. Weiss Ratings upgraded Valmont Industries from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 26th. Zacks Research raised Valmont Industries from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 23rd. Finally, Oppenheimer set a $600.00 target price on Valmont Industries and gave the company an "outperform" rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $573.75.

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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