J. Safra Sarasin Holding AG cut its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 28,699 shares of the industrial products company's stock after selling 1,872 shares during the quarter. J. Safra Sarasin Holding AG owned 0.14% of Valmont Industries worth $8,190,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of VMI. Principal Financial Group Inc. lifted its stake in Valmont Industries by 0.4% during the first quarter. Principal Financial Group Inc. now owns 46,566 shares of the industrial products company's stock valued at $13,289,000 after buying an additional 172 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Valmont Industries by 82.3% during the first quarter. GAMMA Investing LLC now owns 226 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 102 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Valmont Industries by 18.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,579 shares of the industrial products company's stock valued at $736,000 after acquiring an additional 393 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Valmont Industries by 16.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,490 shares of the industrial products company's stock worth $425,000 after purchasing an additional 207 shares during the period. Finally, Aquatic Capital Management LLC grew its position in Valmont Industries by 16.2% during the 4th quarter. Aquatic Capital Management LLC now owns 6,602 shares of the industrial products company's stock worth $2,025,000 after purchasing an additional 922 shares in the last quarter. Institutional investors own 87.84% of the company's stock.
Insider Buying and Selling at Valmont Industries
In related news, CAO Timothy P. Francis sold 2,867 shares of the business's 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 sale, the chief accounting officer owned 9,746 shares of the company's stock, valued at $3,494,135.92. The trade was a 22.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on VMI. Wall Street Zen lowered Valmont Industries from a "buy" rating to a "hold" rating in a report on Sunday. William Blair raised Valmont Industries from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 23rd. Stifel Nicolaus lifted their target price on Valmont Industries from $345.00 to $382.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, DA Davidson increased their price target on shares of Valmont Industries from $380.00 to $400.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd.
Check Out Our Latest Stock Report on Valmont Industries
Valmont Industries Stock Down 0.3%
NYSE VMI traded down $1.19 during trading on Wednesday, hitting $366.18. 63,606 shares of the company traded hands, compared to its average volume of 160,098. The business has a fifty day simple moving average of $335.57 and a 200 day simple moving average of $321.26. Valmont Industries, Inc. has a 12 month low of $250.07 and a 12 month high of $379.22. The company has a current ratio of 2.15, a quick ratio of 1.44 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $7.23 billion, a P/E ratio of 34.25 and a beta of 1.12.
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 for the quarter, beating the consensus estimate of $4.78 by $0.10. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Valmont Industries had a return on equity of 22.10% and a net margin of 5.98%. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.91 EPS. As a group, sell-side analysts predict that Valmont Industries, Inc. will post 18.07 EPS for the current year.
Valmont Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, September 26th. Valmont Industries's dividend payout ratio (DPR) is presently 25.33%.
About Valmont Industries
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Free Report)
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.
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