Amundi trimmed its stake in shares of Valmont Industries, Inc. (NYSE:VMI – Free Report) by 30.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,598 shares of the industrial products company’s stock after selling 35,941 shares during the quarter. Amundi owned approximately 0.43% of Valmont Industries worth $47,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avalon Trust Co acquired a new position in Valmont Industries in the second quarter valued at $22,958,000. De Lisle Partners LLP acquired a new stake in Valmont Industries during the 2nd quarter worth about $13,180,000. Congruence Capital LLC acquired a new stake in Valmont Industries during the 4th quarter worth about $15,011,000. Leuthold Group LLC raised its position in shares of Valmont Industries by 983.7% in the 4th quarter. Leuthold Group LLC now owns 11,498 shares of the industrial products company’s stock worth $4,626,000 after acquiring an additional 10,437 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Valmont Industries by 3.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 252,605 shares of the industrial products company’s stock worth $100,933,000 after acquiring an additional 9,130 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Valmont Industries news, CFO John Schwietz bought 208 shares of the stock in a transaction that occurred on Thursday, July 23rd. The shares were bought at an average price of $486.14 per share, for a total transaction of $101,117.12. Following the acquisition, the chief financial officer directly owned 2,992 shares of the company’s stock, valued at approximately $1,454,530.88. The trade was a 7.47% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodor Freye sold 800 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $495.00, for a total transaction of $396,000.00. Following the completion of the transaction, the director directly owned 2,805 shares in the company, valued at approximately $1,388,475. The trade was a 22.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.42% of the company’s stock.
Valmont Industries Trading Down 0.8%
Shares of Valmont Industries stock opened at $476.80 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 $361.50 and a 52 week high of $585.71. The stock has a 50 day moving average price of $498.84 and a two-hundred day moving average price of $486.91. The stock has a market capitalization of $9.21 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.10 and a beta of 1.34.
Valmont Industries (NYSE:VMI – Get Free Report) last issued its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.34. Valmont Industries had a return on equity of 25.57% and a net margin of 11.70%.The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm earned $4.88 earnings per share. Valmont Industries’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Valmont Industries, Inc. will post 23.08 earnings per share for the current fiscal year.
Valmont Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $3.08 annualized dividend and a dividend yield of 0.6%. Valmont Industries’s payout ratio is presently 11.99%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on VMI shares. Stifel Nicolaus lifted their target price on Valmont Industries from $645.00 to $678.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Valmont Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Oppenheimer set a $600.00 price objective on shares of Valmont Industries and gave the company an “outperform” rating in a research note on Thursday, May 28th. Wall Street Zen downgraded shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Valmont Industries from $600.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $587.00.
View Our Latest Stock Analysis on Valmont Industries
Valmont Industries Company Profile
Valmont Industries, Inc is a global manufacturer of engineered products and services serving the infrastructure and agricultural markets. Founded in 1946 and headquartered in Omaha, Nebraska, the company operates through its Infrastructure and Agriculture segments.
Valmont’s Infrastructure segment provides utility and substation structures, engineered poles, lighting and traffic structures, wireless communication infrastructure, transportation products, and protective coatings for steel and other materials.
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