Valmont Industries, Inc. (NYSE:VMI) Position Increased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its stake in Valmont Industries, holding 1,991,788 shares, valued at approximately $568 million, which represents 9.92% of the company.
• Valmont Industries reported a quarterly earnings per share (EPS) of $4.88, exceeding analysts' expectations of $4.78, alongside a revenue of $1.05 billion.
• The company has declared a quarterly dividend of $0.68 per share, reflecting an annualized dividend yield of 0.7% and a dividend payout ratio of 25.33%.

Vanguard Group Inc. grew its stake in Valmont Industries, Inc. (NYSE:VMI - Free Report) by 0.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,991,788 shares of the industrial products company's stock after purchasing an additional 949 shares during the quarter. Vanguard Group Inc. owned approximately 9.92% of Valmont Industries worth $568,397,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH increased its holdings in Valmont Industries by 118.0% in the first quarter. Allianz Asset Management GmbH now owns 274,769 shares of the industrial products company's stock valued at $78,411,000 after purchasing an additional 148,740 shares during the period. GAMMA Investing LLC boosted its position in Valmont Industries by 51,911.3% during the first quarter. GAMMA Investing LLC now owns 64,494 shares of the industrial products company's stock worth $18,405,000 after purchasing an additional 64,370 shares during the period. Driehaus Capital Management LLC bought a new position in Valmont Industries during the fourth quarter worth about $14,180,000. Northern Trust Corp boosted its position in shares of Valmont Industries by 20.8% in the fourth quarter. Northern Trust Corp now owns 201,559 shares of the industrial products company's stock valued at $61,812,000 after acquiring an additional 34,666 shares during the period. Finally, Pennant Investors LP boosted its position in shares of Valmont Industries by 72.5% in the fourth quarter. Pennant Investors LP now owns 69,000 shares of the industrial products company's stock valued at $21,160,000 after acquiring an additional 29,000 shares during the period. 87.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity 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 value of $1,027,876.84. Following the transaction, the chief accounting officer owned 9,746 shares in the company, valued at approximately $3,494,135.92. This trade represents a 22.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Valmont Industries Trading Down 0.6%

Shares of Valmont Industries stock traded down $2.23 during trading hours on Friday, hitting $374.11. The company's stock had a trading volume of 178,967 shares, compared to its average volume of 182,185. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.44 and a current ratio of 2.15. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 34.83 and a beta of 1.12. Valmont Industries, Inc. has a twelve month low of $250.07 and a twelve month high of $384.08. The firm has a fifty day moving average of $343.93 and a 200-day moving average of $323.28.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The industrial products company reported $4.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.78 by $0.10. The firm had revenue of $1.05 billion during 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 business's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.91 EPS. Research analysts forecast that Valmont Industries, Inc. will post 18.07 EPS for the current year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Friday, September 26th will be given 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 payout ratio is currently 25.33%.

Valmont Industries Company 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.