The Manufacturers Life Insurance Company acquired a new position in Valmont Industries, Inc. (NYSE:VMI - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,822 shares of the industrial products company's stock, valued at approximately $9,716,000. The Manufacturers Life Insurance Company owned 0.09% of Valmont Industries as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Elyxium Wealth LLC bought a new position in Valmont Industries during the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Valmont Industries during the fourth quarter valued at $27,000. Northwestern Mutual Wealth Management Co. bought a new position in Valmont Industries during the 2nd quarter valued at about $28,000. Leonteq Securities AG bought a new position in shares of Valmont Industries in the fourth quarter valued at approximately $30,000. Finally, State of Wyoming acquired a new position in Valmont Industries in the fourth quarter worth $34,000. Institutional investors own 87.84% of the company's stock.
Wall Street Analysts Forecast Growth
VMI has been the topic of several research analyst reports. Weiss Ratings cut shares of Valmont Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. Wall Street Zen cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Stifel Nicolaus raised their price objective on Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. JPMorgan Chase & Co. raised their target price 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 research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $587.00.
Check Out Our Latest Research Report on Valmont Industries
Insiders Place Their Bets
In other news, Director Theodor Werner Freye sold 800 shares of Valmont Industries stock in a transaction on Monday, July 27th. The stock was sold at an average price of $495.00, for a total transaction of $396,000.00. Following the completion of the sale, the director owned 2,805 shares of the company's stock, valued at approximately $1,388,475. This trade represents a 22.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John L. Schwietz acquired 208 shares of the company's stock in a transaction on Thursday, July 23rd. The stock was acquired at an average price of $486.14 per share, with a total value of $101,117.12. Following the purchase, the chief financial officer directly owned 2,992 shares in the company, valued at approximately $1,454,530.88. This represents a 7.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.42% of the stock is currently owned by company insiders.
Valmont Industries Trading Down 0.8%
Valmont Industries stock opened at $476.92 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.35. Valmont Industries, Inc. has a 52 week low of $360.41 and a 52 week high of $585.71. The stock has a 50-day simple moving average of $515.90 and a 200 day simple moving average of $486.31. The stock has a market capitalization of $9.21 billion, a P/E ratio of 18.57, a PEG ratio of 1.09 and a beta of 1.35.
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 for the quarter, beating analysts' consensus estimates of $5.80 by $0.34. The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.09 billion. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.88 EPS. Analysts expect that Valmont Industries, Inc. will post 23.08 earnings per share for the current year.
Valmont Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.77 per share. 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 (DPR) is 11.99%.
About Valmont Industries
(
Free Report)
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.
See Also
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