Valmont Industries (NYSE:VMI) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Valmont Industries (NYSE:VMI) from a buy rating to a strong-buy rating in a report released on Monday.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus upped their price objective on Valmont Industries from $285.00 to $325.00 and gave the stock a buy rating in a research note on Thursday, July 18th. DA Davidson raised their price objective on Valmont Industries from $300.00 to $340.00 and gave the company a buy rating in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $332.50.

Valmont Industries Stock Up 0.6 %

NYSE VMI opened at $282.24 on Monday. The stock’s 50-day moving average price is $276.25 and its 200-day moving average price is $245.43. The company has a market capitalization of $5.70 billion, a P/E ratio of 37.19 and a beta of 1.03. Valmont Industries has a 52 week low of $188.63 and a 52 week high of $307.67. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69.

Valmont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, September 27th. Valmont Industries’s payout ratio is 31.62%.

Insider Activity

In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were 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 owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy P. Francis sold 2,300 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 9,471 shares in the company, valued at $2,826,998.79. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Valmont Industries

Several institutional investors have recently made changes to their positions in VMI. Norden Group LLC grew its stake in Valmont Industries by 1,353.5% in the first quarter. Norden Group LLC now owns 23,620 shares of the industrial products company’s stock valued at $5,394,000 after purchasing an additional 21,995 shares during the last quarter. Wambolt & Associates LLC grew its position in Valmont Industries by 24.2% during the 4th quarter. Wambolt & Associates LLC now owns 3,485 shares of the industrial products company’s stock worth $814,000 after purchasing an additional 679 shares during the last quarter. Congress Asset Management Co. MA increased its stake in Valmont Industries by 10.6% during the 1st quarter. Congress Asset Management Co. MA now owns 145,043 shares of the industrial products company’s stock valued at $33,110,000 after purchasing an additional 13,941 shares in the last quarter. Congress Wealth Management LLC DE lifted its stake in shares of Valmont Industries by 11.7% during the first quarter. Congress Wealth Management LLC DE now owns 27,673 shares of the industrial products company’s stock worth $6,317,000 after buying an additional 2,909 shares during the period. Finally, Robeco Schweiz AG grew its holdings in shares of Valmont Industries by 65.2% during the fourth quarter. Robeco Schweiz AG now owns 150,855 shares of the industrial products company’s stock valued at $35,226,000 after buying an additional 59,524 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Valmont Industries Company Profile

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.