Mackenzie Financial Corp Has $1.32 Million Position in Valmont Industries, Inc. (NYSE:VMI)

Key Points

• Mackenzie Financial Corp increased its stake in Valmont Industries by 170.6% in Q1, owning 4,613 shares valued at approximately $1.3 million.
• Valmont Industries reported $4.88 EPS for the last quarter, surpassing analysts' expectations and showing a 1.0% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.68 per share, with an ex-dividend date on September 26th, representing a 0.7% dividend yield.

Mackenzie Financial Corp lifted its position in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 170.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,613 shares of the industrial products company's stock after purchasing an additional 2,908 shares during the quarter. Mackenzie Financial Corp's holdings in Valmont Industries were worth $1,316,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Valmont Industries by 18.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,921 shares of the industrial products company's stock valued at $15,673,000 after buying an additional 8,677 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Valmont Industries in the first quarter valued at approximately $221,000. Cetera Investment Advisers boosted its holdings in shares of Valmont Industries by 2.1% in the 1st quarter. Cetera Investment Advisers now owns 8,219 shares of the industrial products company's stock worth $2,345,000 after acquiring an additional 172 shares in the last quarter. Venturi Wealth Management LLC grew its position in Valmont Industries by 1,037.1% during the 1st quarter. Venturi Wealth Management LLC now owns 3,525 shares of the industrial products company's stock worth $1,006,000 after acquiring an additional 3,215 shares during the last quarter. Finally, Oak Thistle LLC increased its holdings in Valmont Industries by 477.5% during the 1st quarter. Oak Thistle LLC now owns 9,939 shares of the industrial products company's stock valued at $2,836,000 after purchasing an additional 8,218 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Valmont Industries Trading Up 0.1%

VMI traded up $0.43 during mid-day trading on Friday, reaching $368.44. The stock had a trading volume of 63,970 shares, compared to its average volume of 159,807. The firm's fifty day simple moving average is $337.56 and its two-hundred day simple moving average is $321.78. The stock has a market capitalization of $7.27 billion, a P/E ratio of 34.35 and a beta of 1.12. Valmont Industries, Inc. has a 52 week low of $250.07 and a 52 week high of $379.22. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.44 and a current ratio of 2.15.

Valmont Industries (NYSE:VMI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.10. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.03 billion. Valmont Industries had a return on equity of 22.10% and a net margin of 5.98%. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.91 earnings per share. On average, equities analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Friday, September 26th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.7%. Valmont Industries's dividend payout ratio is 25.33%.

Insider Buying and Selling at Valmont Industries

In related news, CAO Timothy P. Francis sold 2,867 shares of Valmont Industries stock in a transaction on Friday, August 1st. The stock was sold at an average price of $358.52, for a total transaction of $1,027,876.84. Following the completion of the sale, the chief accounting officer directly owned 9,746 shares of the company's stock, valued at $3,494,135.92. The trade was a 22.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on VMI. DA Davidson boosted their price objective on Valmont Industries from $380.00 to $400.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. William Blair raised Valmont Industries from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd. Stifel Nicolaus increased their price objective on shares of Valmont Industries from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Wall Street Zen cut shares of Valmont Industries from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd.

Valmont Industries Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.