Diversify Wealth Management LLC Grows Stock Position in Valmont Industries, Inc. $VMI

Diversify Wealth Management LLC boosted its holdings in Valmont Industries, Inc. (NYSE:VMI) by 47.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,179 shares of the industrial products company’s stock after acquiring an additional 1,989 shares during the period. Diversify Wealth Management LLC’s holdings in Valmont Industries were worth $2,469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Congress Asset Management Co. grew its holdings in shares of Valmont Industries by 14.1% during the fourth quarter. Congress Asset Management Co. now owns 85,346 shares of the industrial products company’s stock worth $34,336,000 after buying an additional 10,518 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Valmont Industries during the third quarter valued at approximately $1,749,000. Dakota Wealth Management purchased a new stake in Valmont Industries in the 4th quarter worth approximately $581,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Valmont Industries by 6,762.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,853 shares of the industrial products company’s stock valued at $3,562,000 after acquiring an additional 8,724 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Valmont Industries during the 4th quarter worth $1,785,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Valmont Industries Trading Down 1.1%

Shares of VMI stock opened at $540.89 on Tuesday. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47. Valmont Industries, Inc. has a fifty-two week low of $326.22 and a fifty-two week high of $585.71. The firm’s 50 day moving average price is $537.63 and its two-hundred day moving average price is $471.98.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $0.79. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $994.85 million. Valmont Industries had a net margin of 8.91% and a return on equity of 24.94%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.32 earnings per share. On average, analysts anticipate that Valmont Industries, Inc. will post 22.83 EPS for the current year.

Valmont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $3.08 annualized dividend and a yield of 0.6%. Valmont Industries’s dividend payout ratio (DPR) is 17.10%.

Insider Activity at Valmont Industries

In other news, Director Mogens C. Bay sold 17,500 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the completion of the sale, the director owned 112,309 shares of the company’s stock, valued at $55,294,213.06. This represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

VMI has been the topic of several recent analyst reports. Zacks Research upgraded Valmont Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded Valmont Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. JPMorgan Chase & Co. upped their price objective on shares of Valmont Industries from $520.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Wall Street Zen lowered shares of Valmont Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Finally, Stifel Nicolaus raised their target price on shares of Valmont Industries from $541.00 to $645.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $573.75.

Valmont Industries Company Profile

Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.