Raiffeisen Bank International AG Sells 5,000 Shares of Valmont Industries, Inc. $VMI

Key Points

• Raiffeisen Bank International AG cut its Valmont Industries stake by 20% in the fourth quarter, selling 5,000 shares and leaving it with 20,000 shares valued at about $8.15 million.
• Valmont reported better-than-expected quarterly results, with EPS of $5.51 versus $4.72 expected and revenue of $1.03 billion, up 6.2% year over year.
• The company also declared a quarterly dividend of $0.77 per share, while analysts currently rate the stock a consensus Buy with an average price target of $525.25.

Raiffeisen Bank International AG decreased its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the industrial products company's stock after selling 5,000 shares during the quarter. Raiffeisen Bank International AG owned about 0.10% of Valmont Industries worth $8,149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of VMI. Congress Asset Management Co. boosted its position in shares of Valmont Industries by 14.1% during the fourth quarter. Congress Asset Management Co. now owns 85,346 shares of the industrial products company's stock valued at $34,336,000 after buying an additional 10,518 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Valmont Industries during the third quarter valued at approximately $1,749,000. Dakota Wealth Management purchased a new position in shares of Valmont Industries during the fourth quarter valued at approximately $581,000. Jupiter Asset Management Ltd. boosted its position in shares of Valmont Industries by 838.7% during the third quarter. Jupiter Asset Management Ltd. now owns 32,837 shares of the industrial products company's stock valued at $12,732,000 after buying an additional 29,339 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Valmont Industries by 27.2% during the third quarter. Hillsdale Investment Management Inc. now owns 12,155 shares of the industrial products company's stock valued at $4,713,000 after buying an additional 2,600 shares during 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 the business's stock in a transaction on 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 transaction, the director owned 112,309 shares of the company's stock, valued at approximately $55,294,213.06. The trade was 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 accessible through this link. Corporate insiders own 1.42% of the company's stock.

Valmont Industries Stock Up 3.2%

VMI stock opened at $528.59 on Friday. The stock's fifty day simple moving average is $485.59 and its two-hundred day simple moving average is $449.11. The company has a current ratio of 2.38, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. Valmont Industries, Inc. has a 1-year low of $316.56 and a 1-year high of $548.90. The stock has a market cap of $10.26 billion, a P/E ratio of 29.35, a P/E/G ratio of 1.18 and a beta of 1.34.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share for the quarter, topping the consensus estimate of $4.72 by $0.79. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $994.85 million. During the same quarter in the previous year, the firm earned $4.32 earnings per share. The business's revenue was up 6.2% on a year-over-year basis. Analysts expect that Valmont Industries, Inc. will post 22.83 EPS for the current year.

Valmont Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Zacks Research raised Valmont Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their target price on Valmont Industries from $480.00 to $510.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Weiss Ratings raised Valmont Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, May 21st. DA Davidson lifted their target price on Valmont Industries from $415.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen raised Valmont Industries from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $525.25.

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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