Synovus Financial Corp grew its holdings in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 31.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,106 shares of the industrial products company's stock after buying an additional 1,207 shares during the period. Synovus Financial Corp's holdings in Valmont Industries were worth $1,457,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in VMI. Smartleaf Asset Management LLC raised its holdings in shares of Valmont Industries by 87.7% during the first quarter. Smartleaf Asset Management LLC now owns 107 shares of the industrial products company's stock valued at $31,000 after buying an additional 50 shares during the last quarter. Quarry LP raised its holdings in shares of Valmont Industries by 395.1% during the fourth quarter. Quarry LP now owns 203 shares of the industrial products company's stock valued at $62,000 after buying an additional 162 shares during 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 buying an additional 102 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Valmont Industries by 23.9% during the first quarter. Signaturefd LLC now owns 270 shares of the industrial products company's stock valued at $77,000 after buying an additional 52 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Valmont Industries during the first quarter valued at approximately $82,000. Institutional investors own 87.84% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on VMI shares. Stifel Nicolaus lifted their price target on Valmont Industries from $345.00 to $382.00 and gave the company a "buy" rating in a report on Monday, July 21st. Wall Street Zen cut Valmont Industries from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, DA Davidson boosted their target price on Valmont Industries from $380.00 to $400.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $391.00.
View Our Latest Research Report on Valmont Industries
Insider Activity
In other Valmont Industries news, CAO Timothy P. Francis sold 2,867 shares of the company'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 transaction, the chief accounting officer owned 9,746 shares of the company's stock, valued at approximately $3,494,135.92. This represents a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.
Valmont Industries Price Performance
Shares of NYSE:VMI opened at $375.66 on Wednesday. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 34.98 and a beta of 1.12. Valmont Industries, Inc. has a 12 month low of $250.07 and a 12 month high of $384.08. The stock's 50 day moving average price is $350.69 and its 200 day moving average price is $325.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.15 and a quick ratio of 1.44.
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 company 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 revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.91 earnings per share. Valmont Industries has set its FY 2025 guidance at 17.500-19.500 EPS. Equities research analysts anticipate that Valmont Industries, Inc. will post 18.07 earnings per share for the current fiscal year.
Valmont Industries Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, September 26th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.72 annualized dividend and a dividend yield of 0.7%. Valmont Industries's dividend payout ratio is currently 25.33%.
Valmont Industries Company Profile
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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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