SummitTX Capital L.P. Increases Stake in Valmont Industries, Inc. $VMI

Key Points

• SummitTX Capital nearly doubled its Valmont Industries stake in the first quarter, increasing holdings by 95.8% to 5,554 shares valued at approximately $2.22 million. Institutional investors collectively own 87.84% of VMI.
• Valmont reported quarterly EPS of $6.14, surpassing the $5.80 consensus estimate, while revenue rose 6.5% year over year to $1.12 billion. Analysts’ average rating is “Moderate Buy,” 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. CFO John L. Schwietz also purchased 208 shares worth roughly $101,000.

SummitTX Capital L.P. raised its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 95.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,554 shares of the industrial products company's stock after purchasing an additional 2,717 shares during the quarter. SummitTX Capital L.P.'s holdings in Valmont Industries were worth $2,219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VMI. Elyxium Wealth LLC purchased a new stake in shares of Valmont Industries during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Valmont Industries in the 4th quarter worth approximately $27,000. Leonteq Securities AG bought a new position in Valmont Industries in the 4th quarter valued at approximately $30,000. State of Wyoming bought a new position in Valmont Industries in the 4th quarter valued at approximately $34,000. Finally, V Square Quantitative Management LLC purchased a new stake in Valmont Industries during the 1st quarter valued at $37,000. Institutional investors own 87.84% of the company's stock.

Valmont Industries Price Performance

Shares of VMI opened at $478.68 on Wednesday. The firm has a market cap of $9.29 billion, a PE ratio of 18.64, a P/E/G ratio of 1.13 and a beta of 1.33. 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 firm has a fifty day simple moving average of $537.78 and a two-hundred day simple moving average of $479.62. Valmont Industries, Inc. has a 1-year low of $353.41 and a 1-year high of $585.71.

Valmont Industries (NYSE:VMI - Get Free Report) last released 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. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.During the same period last year, the business posted $4.88 EPS. The company's revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that Valmont Industries, Inc. will post 22.96 EPS for the current year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be issued a $0.77 dividend. 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 dividend payout ratio is currently 11.99%.

Analysts Set New Price Targets

VMI has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a report on Monday, July 20th. JPMorgan Chase & Co. increased their price objective on Valmont Industries from $600.00 to $620.00 and gave the company an "overweight" rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Valmont Industries from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 26th. Wall Street Zen raised Valmont Industries from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Finally, Zacks Research cut shares of Valmont Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $587.00.

Insider Transactions at Valmont Industries

In other news, CFO John L. Schwietz bought 208 shares of the company's stock in a transaction on Thursday, July 23rd. The shares were acquired at an average cost of $486.14 per share, with a total value of $101,117.12. Following the completion of the transaction, the chief financial officer owned 2,992 shares of the company's stock, valued at approximately $1,454,530.88. This trade represents a 7.47% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.42% of the company's stock.

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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