Valmont Industries, Inc. (NYSE:VMI) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its position in Valmont Industries, Inc. (NYSE:VMI) by 1,606.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,088 shares of the industrial products company’s stock after acquiring an additional 7,614 shares during the period. Fifth Third Bancorp’s holdings in Valmont Industries were worth $2,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. increased its stake in shares of Valmont Industries by 2,060.0% in the second quarter. Mather Group LLC. now owns 108 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 103 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Valmont Industries by 633.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 132 shares of the industrial products company’s stock valued at $31,000 after buying an additional 114 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Valmont Industries by 37.3% in the 4th quarter. Signaturefd LLC now owns 206 shares of the industrial products company’s stock valued at $48,000 after buying an additional 56 shares during the period. Versant Capital Management Inc purchased a new stake in shares of Valmont Industries in the second quarter worth about $52,000. Finally, Principal Securities Inc. acquired a new stake in Valmont Industries during the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Price Performance

Valmont Industries stock traded up $4.10 during trading on Wednesday, reaching $285.00. The company had a trading volume of 37,553 shares, compared to its average volume of 171,064. The firm has a market capitalization of $5.75 billion, a PE ratio of 37.55 and a beta of 1.03. The firm’s 50-day simple moving average is $278.10 and its 200 day simple moving average is $247.04. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53. Valmont Industries, Inc. has a 1-year low of $188.63 and a 1-year high of $307.67.

Valmont Industries (NYSE:VMI) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.72. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.06 billion. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. As a group, equities research analysts anticipate that Valmont Industries, Inc. will post 16.76 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.84%. Valmont Industries’s payout ratio is currently 31.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VMI shares. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. DA Davidson increased their price target on shares of Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus upped their price objective on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $332.50.

Insider Activity

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the sale, the director now owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the sale, the chief financial officer now directly owns 9,471 shares in the company, valued at $2,826,998.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

About Valmont Industries

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.